Tuesday, October 18, 2011

Hosni Mubarak Sons 'Have £215 million in Swiss Banks'

THE DAILY TELEGRAPH: The two sons of ousted President Hosni Mubarak have an estimated $340 million (£215m) in Swiss bank accounts, a senior Egyptian Justice Ministry official said on Monday.

Assem al-Gohary said Swiss authorities are investigating whether one of the sons, Alaa, 49, was involved in money laundering along with other ex-regime figures.

Mr Mubarak and his sons have been charged with corruption and all three are under arrest in Egypt. Mr Mubarak is also charged with complicity in the killing of about 850 protesters during the Jan 25 to Feb 11 Egyptian uprising.

Rumours circulated during the uprising that Mr Mubarak and his sons had amassed tens of billions of pounds in corrupt practices, helping drive the anger that brought him down.

Switzerland has already frozen the assets of the Mubarak family and other ex-Egyptian regime figures, which al-Gohary estimated at nearly $450 million. He added that most of those assets belong to the sons. Continue reading and comment » | Monday, October 17, 2011