This ad will auto close in 10 seconds

Switzerland freezes $300 mn of Mubarak cash

Last Updated: Monday, December 31, 2012 - 08:37

Moscow: The Swiss authorities have frozen USD 300 million in Credit Suisse accounts in Geneva held by the sons of former Egyptian president Hosni Mubarak, Swiss media reported on Sunday.

The funds are in accounts that belong to Alaa and Gamal Mubarak. Both sons of the deposed president are currently in an Egyptian jail awaiting trial on charges of massive corruption.

Swiss media said the funds were transferred to Credit Suisse in 2005.

A Credit Suisse spokesman declined to comment.

Reports also said funds believed to have come from corrupt officials in Egypt had likewise been frozen at the Swiss office of French banking giant BNP Paribas.

Switzerland is currently investigating 14 people close to Mubarak, who was toppled by a popular uprising in 2011, suspected of massive embezzlement of public funds.

Mubarak is serving life imprisonment for ordering the killing of protesters during the revolt.


First Published: Monday, December 31, 2012 - 08:37

More from zeenews

comments powered by Disqus