Tuesday, 18 October 2011

Mubarak's sons have £215 million stashed away in Swiss banks

Hosni Mubarak's two sons, Gamal and Alaa, reportedly have £215 million stashed away in Swiss bank accounts. Egypt's deputy justice minister and head of the Illicit Gains Authority Assem al-Gohari said most of the funds, which are now frozen, belonged to Mubarak's elder son Alaa.

Both of Mubarak's sons are standing trial on corruption charges and complicity in the killing of protesters. Mubarak himself is charged with ordering the army to shoot at protesters, who were calling for his resignation throughout January and February. The uprising was in part fuelled by the public's anger over the Mubarak family illegally amassing vast amounts of wealth.

Speaking about the situation, Gohari said the Swiss authorities were investigating whether Alaa was involved in money laundering. Switzerland has already frozen the assets of the Mubarak family and other former Egyptian government figures.

Sources: Reuters, BBC News, Bloomberg

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

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