Press Esc to close
Friday 19 September 2014
News updated at 1:16 PM IST
Weather
Max: 27.8°C
Min : 20.1°C
In Bangalore
Sunny day

Switzerland freezes assets of Mubarak

London, Feb 12, (PTI):

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
A ballot box is emptied as workers prepare to count ballots at a counting centre in Aberdeen...

A ballot box is emptied as workers prepare to count ballots at a counting centre in Aberdeen...

Supporters from the 'No' Campaign react to a declaration in their favour, at the Better ...

Supporters from the 'No' Campaign react to a declaration in their favour, at the Better ...

A counting staff member yawns as they count ballot papers through the night in the Scottish...

A counting staff member yawns as they count ballot papers through the night in the Scottish...

Supporters from the 'No' Campaign react to a declaration in their favour, at the Better ...

Supporters from the 'No' Campaign react to a declaration in their favour, at the Better ...

Poll clerk George MacKay sits in the Coulags caravan polling station, in the Scottish ...

Poll clerk George MacKay sits in the Coulags caravan polling station, in the Scottish ...

A man collects drinking water from a partially submerged hand-pump in Srinagar...

A man collects drinking water from a partially submerged hand-pump in Srinagar...

Formula One drivers take off their headsets as they leave a news conference...

Formula One drivers take off their headsets as they leave a news conference...

Contestants of Femina Style Diva 2014 take a selfie with actress Mugdha Godse...

Contestants of Femina Style Diva 2014 take a selfie with actress Mugdha Godse...

Narendra Modi explains about the working of spinning wheel to Chinese President Xi Jinping...

Narendra Modi explains about the working of spinning wheel to Chinese President Xi Jinping...

Police lathicharge RLD supporters who were holding a protest against the Union government...

Police lathicharge RLD supporters who were holding a protest against the Union government...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523