Mubarak family assets frozen
Source: Agencies |
February 13, 2011, Sunday
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Print Edition
Print Edition
THE Swiss government on Friday froze any assets belonging to former Egyptian President Hosni Mubarak or his family in Switzerland.
Foreign Ministry spokesman Lars Knuchel said the order took effect immediately but gave no details on what bank accounts or other assets Mubarak or his family might have in Switzerland.
He spoke as demonstrators in Cairo celebrated the announcement that Mubarak had resigned after nearly three decades and handed power over to the military.
"(The government) wants to avoid any risk of misappropriation of state-owned Egyptian assets," the Foreign Ministry said. It also forbid the sale of any assets, especially real estate holdings.
At the end of 2009, Egyptian deposits in Swiss banks totaled 3.6 billion Swiss francs (US$3.5 billion), Swiss National Bank said.
Foreign Ministry spokesman Lars Knuchel said the order took effect immediately but gave no details on what bank accounts or other assets Mubarak or his family might have in Switzerland.
He spoke as demonstrators in Cairo celebrated the announcement that Mubarak had resigned after nearly three decades and handed power over to the military.
"(The government) wants to avoid any risk of misappropriation of state-owned Egyptian assets," the Foreign Ministry said. It also forbid the sale of any assets, especially real estate holdings.
At the end of 2009, Egyptian deposits in Swiss banks totaled 3.6 billion Swiss francs (US$3.5 billion), Swiss National Bank said.
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