Tuesday, 17 May 2011

Egypt: Hosni Mubarak's wife to hand-over $3 million worth of assets

The wife of ousted Egyptian president, Hosni Mubarak, has agreed to hand-over $3 million worth of assets to the State following an investigation over corruption charges. Suzanne Mubarak has reportedly agreed to give-up funds held in various bank accounts and a villa in Cairo.

The Mubarak family is under investigation for corruption and illegal acquisition of wealth during Hosni Mubarak's 30 year reign. The former president, who stepped down on 11th February, has also been accused of ordering the killings of anti-government protesters.

On Monday 16th May, the former first lady, aged 70, promised to hand-over both the money and the villa to the authorities. According to expert lawyer, Nasser Amin, by relinquishing her claims, she would be benefit from articles in the Egyptian law which allow those accused of making illegal gains to give them up in exchange for dropping the investigation.

Amin said: “The decision may not be accepted by society, who after a revolution, side with the idea of revenge. But from the legal point of view, this is in line.”

Both Hosni Mubarak and his wife are currently under detention in a hospital in the Red Sea resort of Sharm El-Sheikh. The former first lady is recovering from a "panic attack", which she suffered after being detained.

Sources: BBC News, AFP, Reuters Africa, RIA Novosti

For more news and expert analysis about Egypt, please see Egypt Politics & Security.

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