Egypt recovers money from Mubarak’s Swiss bank accounts

Swiss authorities have also recovered millions of dollars linked to the Syrian regime

Published: Updated:
Read Mode
100% Font Size
1 min read

Swiss and Egyptian authorities are working on recovering nearly $782 million in funds deposited by ousted former President Hosni Mubarak and his aides, a senior Swiss foreign ministry official said on Wednesday.

Additionally, $146 million tied to top Syrian officials and companies has been frozen, said Valentin Zellweger, director of the foreign ministry’s international public law department.

The stashed funds of Tunisian President Zine el-Abidine Ben Ali and his inner circle - equaling $60 million - could be returned after four years, Zellweger added.

Switzerland has also frozen $190 million linked to former deposed Ukrainian President Viktor Yanukovich and officials in his government, the Swiss federal prosecutor’s office said.

Swiss authorities have a long history of confiscating illicit funds deposited by political figures, such as former Philippine president Ferdinand Marcos, Haiti’s Jean-Claude Duvalier, Nigeria’s Sani Abacha and Zaire’s Sese Seko Mobutu.

Top Content Trending