Mobile  |  About us  |  Photos  |  Videos  |  Subscriptions  |  RSS Feeds  |  Today's Paper  |  Classifieds  |  Contact Us
The Daily Star
FRIDAY, 18 APR 2014
03:28 AM Beirut time
Weather    
Beirut
17 °C
Blom Index
BLOM
1,214.01down
Middle East
Follow this story Print RSS Feed ePaper share this
Switzerland freezes $300 mln from Mubarak sons
Agence France Presse
TOPSHOTS Gamal (L) and Alaa Mubarak, sons of ousted president Hosni Mubarak, sit behind bars during their trial in the police academy in the outskirts of Cairo on July 9, 2012. (AFP PHOTO/STR)
TOPSHOTS Gamal (L) and Alaa Mubarak, sons of ousted president Hosni Mubarak, sit behind bars during their trial in the police academy in the outskirts of Cairo on July 9, 2012. (AFP PHOTO/STR)
A+ A-

GENEVA: Swiss authorities have frozen $300 million sitting in Credit Suisse accounts in Geneva held by the sons of deposed Egyptian President Hosni Mubarak, the newspaper Le Matin Dimanche reported Sunday.

The funds are held in accounts belonging to Alaa and Gamal Mubarak, sons of the former president who are currently being held in an Egyptian prison.

The brothers are accused of using their position as scions of Egypt’s longtime ruler to help themselves to villas, luxury cars and stakes in the country’s key companies.

According to the newspaper, the funds were deposited at the Credit Suisse in 2005, which was after Switzerland tightened rules governing transactions by politically exposed depositors.

A Credit Suisse spokesman refused comment, citing the bank’s policy.

The paper said Egypt-linked funds had also been frozen at the Swiss office of French banking giant BNP Paribas.

Switzerland has opened a probe targeting 14 people close to the Mubarak regime who are suspected of embezzling public funds and wide-scale corruption.

Earlier this month, Swiss authorities refused to provide their Egyptian government counterparts with access to their findings so far, citing concerns for the “institutional situation” in Cairo.

 
A version of this article appeared in the print edition of The Daily Star on December 31, 2012, on page 5.
Home Middle East
 
     
 
Egypt
Advertisement
Comments  

Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

comments powered by Disqus
Advertisement


Baabda 2014
Advertisement
Follow us on Facebook Follow us on Twitter Follow us on Linked In Follow us on Google+ Subscribe to our Live Feed
Multimedia
Images  
Pictures of the day
A selection of images from around the world- Thursday April 17, 2014
View all view all
Advertisement
Rami G. Khouri
Rami G. Khouri
Silencing Ayaan Hirsi Ali’s hate talk
Michael Young
Michael Young
Why confuse gibberish with knowledge?
David Ignatius
David Ignatius
Putin will keep rolling, until Obama says no
View all view all
Advertisement
cartoon
 
Click to View Articles
 
 
News
Business
Opinion
Sports
Culture
Technology
Entertainment
Privacy Policy | Anti-Spamming Policy | Disclaimer | Copyright Notice
© 2014 The Daily Star - All Rights Reserved - Designed and Developed By IDS