Prosecutor seizes Mubarak family funds
Source: Agencies |
March 1, 2011, Tuesday
|
Print Edition
Print Edition
EGYPT'S top prosecutor seized all the funds of ousted leader Hosni Mubarak and his family yesterday and banned them from travel abroad, the latest humiliation for the once-powerful family.
During the 18-day pro-democracy uprising, unconfirmed reports that Mubarak and his family might have amassed billions, or even tens of billions of dollars over their three decades in power fueled protesters already enraged over massive corruption and poverty in Egypt. Mubarak, the top ruling party leaders and other cronies, and the powerful military have all profited richly from the corrupt system.
Mubarak was forced out of the president's office on February 11 by the military, who have promised to meet many of the protesters' demands. He is now believed to be living in seclusion with his family in the Red Sea resort of Sharm el-Sheikh. The attorney general had already frozen the assets of the ousted president, his wife, two sons and their wives on February 20.
Nearly half the 80 million Egyptians live under or near the poverty line set by the World Bank at US$2 a day. Mubarak is suspected of turning a blind eye to corruption by family members and their associates, while many of the allegations of wrongdoing centered on the business activities of his two sons, Alaa and Gamal, as well as Gamal's wife and her family.
Yesterday's edition of the state-owned Al-Ahram newspaper, for generations the traditional flagship of the state media in Egypt, splashed on its front page a complaint filed to the attorney general by a former lawmaker and harsh critic of the Mubarak government that detailed the funds held by the Mubaraks in Egypt.
During the 18-day pro-democracy uprising, unconfirmed reports that Mubarak and his family might have amassed billions, or even tens of billions of dollars over their three decades in power fueled protesters already enraged over massive corruption and poverty in Egypt. Mubarak, the top ruling party leaders and other cronies, and the powerful military have all profited richly from the corrupt system.
Mubarak was forced out of the president's office on February 11 by the military, who have promised to meet many of the protesters' demands. He is now believed to be living in seclusion with his family in the Red Sea resort of Sharm el-Sheikh. The attorney general had already frozen the assets of the ousted president, his wife, two sons and their wives on February 20.
Nearly half the 80 million Egyptians live under or near the poverty line set by the World Bank at US$2 a day. Mubarak is suspected of turning a blind eye to corruption by family members and their associates, while many of the allegations of wrongdoing centered on the business activities of his two sons, Alaa and Gamal, as well as Gamal's wife and her family.
Yesterday's edition of the state-owned Al-Ahram newspaper, for generations the traditional flagship of the state media in Egypt, splashed on its front page a complaint filed to the attorney general by a former lawmaker and harsh critic of the Mubarak government that detailed the funds held by the Mubaraks in Egypt.
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