Swiss Move To Freeze Mubarak Loot

Switzerland’s government moved Friday to freeze any assets in the country’s banks that might belong to former Egyptian President Hosni Mubarak or his family, the Swiss Federal Department of Foreign Affairs said Friday.

Mubarak ended his 30-year reign Friday, stepping down following 18 days of protests against his rule.

An official statement from the Swiss Federal Department of Foreign Affairs said the Swiss cabinet had frozen all funds belong to Mubarak or “his circles.”

“The [government] intends in doing so to avoid any risk of embezzlement of Egyptian state property,” the statement read. “At the same time, the cabinet calls on responsible authorities in Egypt to comply with the justified demands of the Egyptian people in a quick, credible, participatory and transparent manner.”

Other posts concerning the net worth of Hosni Mubarak can be found here, here and here.

Complete article via CNN

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