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Mubarak’s assets not frozen in EU: Report

Posted by on February 18, 2011 0 Comment

Cairo/Tehran, Feb 18 (IANS) Egypt’s foreign ministry has not requested the European Union to freeze the assets of ousted president Hosni Mubarak and his family members, an EU source said Friday.

The source, who requested anonymity, said the freezing list issued by the foreign ministry only included the assets of former Egyptian officials and ministers, Iran’s Press TV said citing an Egyptian daily Al-Masry Al-Youm report.

British Foreign Minister William Hague told parliament Tuesday that they had received a request from the Egyptian government to freeze the assets of several Egyptian ex-officials.

This request had also been confirmed by Bernard Valero, the French foreign ministry spokesman.

According to the report, a US finance official has claimed that tracking down assets and properties of Mubarak and his family is very difficult. Another official said that only Mubarak’s assets in American banks can be detected.

Mubarak’s financial advisors have reportedly moved his family assets from European banks to institutions in the Gulf region following an announcement by the Swiss government that they would move to freeze his bank accounts.

Egyptian anti-corruption campaigners pressed the public prosecutor Thursday to launch a probe into the assets of Mubarak and his family, saying this is the “single largest plot against Egypt’s wealth by one family”.

The fortunes of the ousted despot and his family are speculated to reach some $70 billion.

Mubarak, who ruled Egypt for 30 years, stepped down as president Feb 11 after 18 days of protests. The military has taken charge of the government in Egypt.

Meanwhile, four former Egyptian senior officials, including three ministers, were arrested Thursday in Egypt on charges of abusing power and money-laundering.


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