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Switzerland freezes possible Mubarak assets

Last Updated: Saturday, February 12, 2011 - 09:00

Zurich: Switzerland has frozen assets possibly belonging to Hosni Mubarak, who stepped down as President of Egypt on Friday after 30 years of rule, a spokesman for the Foreign Ministry said.

"I can confirm that Switzerland has frozen possible assets of the former Egyptian president with immediate effect," spokesman Lars Knuchel said, declining to specify how much money was involved.

In recent years, Switzerland has worked hard to improve its image as a haven for ill-gotten assets and has also frozen assets belonging to Tunisia`s former president Zine al-Abidine Ben Ali as well as those of Ivory Coast`s Laurent Gbagbo.
Bureau Report

First Published: Saturday, February 12, 2011 - 09:00

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