Press Esc to close
Tuesday 25 July 2017
News updated at 10:39 AM IST

Switzerland freezes assets of Mubarak

Last updated: 12 February, 2011
London, Feb 12, (PTI): 18:32 IST

Switzerland has announced that it was freezing assets owned there by Hosni Mubarak, former president of Egypt, the media reported today.

The announcement, which gave no details as to what assets Mubarak or his family might have in Swiss banks, will send shock waves through the presidential palaces of other Middle Eastern countries, according to a report in The Daily Telegraph newspaper.

"The government wants to avoid any risk of misappropriation of state-owned Egyptian assets," a statement by the foreign ministry of Switzerland stated. Stories of Mubarak's personal wealth, ranging up to wild estimates of USD 70 billion (44 billion pounds), long suppressed by state media, have been circulating among the crowds of protesters, the report said.

His family is said to own property around the world, including in London, Paris, Dubai, and the United States, and he is understood to have money in bank accounts in Britain, the US, and France as well as other Western countries.

82-year-old Mubarak, who ruled Egypt with an iron hand for over three decades, stepped down as President yesterday and handed over power to the army capitulating under mass protests sweeping the country's streets for the last 18 days.

Go to Top

Photo Gallery
The Jewish bagel served with a twist in funky colours at the ongoing International Food Festival...

The Jewish bagel served with a twist in funky colours at the ongoing International Food Festival...

Dark clouds seen over the Parliament house during the ongoing monsoon session in New Delhi...

Dark clouds seen over the Parliament house during the ongoing monsoon session in New Delhi...

Congress MPs Sushmita Dev, K Suresh and Gaurav Gogoi after they were suspended by the Speaker...

Congress MPs Sushmita Dev, K Suresh and Gaurav Gogoi after they were suspended by the Speaker...

Bolylywood actress Kajol and South Star Dhanush during the promotional press conference....

Bolylywood actress Kajol and South Star Dhanush during the promotional press conference....

Union Minister for Finance and Corporate Affairs Arun Jaitley with MoS Santosh Gangwar...

Union Minister for Finance and Corporate Affairs Arun Jaitley with MoS Santosh Gangwar...

MNS Party Workers protest against Chinese products at Airoli over ongoing rift between Indian...

MNS Party Workers protest against Chinese products at Airoli over ongoing rift between Indian...

School girls carry water to pour on Lord Shiva in Bhubaneswar on Monday...

School girls carry water to pour on Lord Shiva in Bhubaneswar on Monday...

Bollywood actors Arjun Kapoor, Ileana D'Cruz and Athiya Shetty during the promotion...

Bollywood actors Arjun Kapoor, Ileana D'Cruz and Athiya Shetty during the promotion...

Fire fighters dousing a fire that broke out at Lok Nayak Bhawan in New Delhi on Monday...

Fire fighters dousing a fire that broke out at Lok Nayak Bhawan in New Delhi on Monday...

National Disaster Response Force (NDRF) men rescuing a villager from a flood-hit area in Morbi...

National Disaster Response Force (NDRF) men rescuing a villager from a flood-hit area in Morbi...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.