Mubarak lawyer says millions frozen by Swiss legal

Last Updated: Friday, November 4, 2011 - 22:31

Cairo: The lawyer for the family of Hosni Mubarak has said USD 340 million held in Swiss banks by the
two sons of the ousted Egyptian president, and frozen there,
are "legal profits" from consulting abroad.

Farid al-Dib, in an interview published in US magazine
"Foreign Affairs," said he had "submitted the sources of the
funds obtained from the sons` work in global stock-market
consultation with clients outside of Egypt who have nothing to
do with Egypt`s market".

"The revenues entered a joint account owned by the two
brothers, which was then separated on March 1, 2008. The funds
in the accounts, after years of (accumulating) interest,
reached over USD 300 million.

"Is it wrong for a man to make legal profits?"
Last month, Egyptian Deputy Justice Minister Assem
al-Gohari said the lion`s share -- USD 300 million -- was held
by Mubarak`s elder son Alaa, a businessman who kept out of

Gohari, who heads the Illicit Gains Authority, said the
balance was held by his younger son Gamal, a leading former
ruling party politician who had widely been seen as his
father`s heir apparent.

Both sons are in custody in a Cairo prison as they stand
trial on an array of charges, including corruption. The next
hearing is set for December 28.

The assets of Mubarak`s two sons make up the great
majority of the USD 460 million in Egyptian funds frozen by
the Swiss government since the veteran strongman`s overthrow
in February, Gohari said.

Dib also spoke of the financial situation of the ailing
former president and his wife, Suzanne.

Mubarak`s "health bill is paid by the government, as the
law permits with any president or former president. His wife
lives off his monthly pension, which reaches up to 93,000
Egyptian pounds (about USD 15,500).

"Mubarak and his wife do not own a single dollar inside or
outside of Egypt."

Mubarak, who was forced to quit in February following
massive street protests, has been on trial since August 3 on
charges of involvement in the killings of protesters and


First Published: Friday, November 4, 2011 - 22:31

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