Press Esc to close
Friday 04 September 2015
News updated at 12:14 AM IST
Weather
Max: 33°C
Min : 22°C
In Bengaluru
Rain lightly

Switzerland freezes assets of Mubarak

Last updated: 12 February, 2011
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
An Indian one-horned rhinoceros wades through flood waters at Kaziranga...

An Indian one-horned rhinoceros wades through flood waters at Kaziranga...

The river Bheem which is the major water source for HK region is seen flowing in low level...

The river Bheem which is the major water source for HK region is seen flowing in low level...

Dragon Boat Race Championship...

Dragon Boat Race Championship...

Shri Krishna Janmbhoomi temple on the eve of Krishna Janmashtami Festival in Mathura...

Shri Krishna Janmbhoomi temple on the eve of Krishna Janmashtami Festival in Mathura...

Bollywood actor Kangana Ranaut and Imran Khan during promotion of film 'Katti Batti' in Mumbai...

Bollywood actor Kangana Ranaut and Imran Khan during promotion of film 'Katti Batti' in Mumbai...

An artist preparing idols of Lord Ganesh in Jodhpur on Thursday...

An artist preparing idols of Lord Ganesh in Jodhpur on Thursday...

11th India -UAE Joint Commission Meeting...

11th India -UAE Joint Commission Meeting...

Farmers waiting for the buyers with the bags of onians at APMC Yard Yeshwanthpur...

Farmers waiting for the buyers with the bags of onians at APMC Yard Yeshwanthpur...

A traffic policeman displays the newly launched app 'Public Eye'...

A traffic policeman displays the newly launched app 'Public Eye'...

Launch of Mercedes-AMG C 63 S...

Launch of Mercedes-AMG C 63 S...

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