Switzerland freezing any money linked to Egypt’s Hosni Mubarak or his family.

Halkaan ka akhri

GENEVA — The Swiss government on Friday froze any assets belonging to former Egyptian President Hosni Mubarak or his family in Switzerland.

Foreign Ministry spokesman Lars Knuchel said the order took effect immediately but gave no details on what bank accounts or other assets Mubarak or his family might have in Switzerland.

He spoke as pro-democracy demonstrators in Cairo were jubilantly celebrating the announcement that Mubarak has resigned after nearly three decades of authoritarian rule and handed power over to the military.

“(The government) wants to avoid any risk of misappropriation of state-owned Egyptian assets,” the Foreign Ministry said in a statement. It also forbid the sale of any assets, especially real estate holdings.

Swiss Finance Minister Widmer-Schlumpf was asked earlier this week by Swiss national TV station SF whether Mubarak or his family had any money in Switzerland.

“We’re in the process of clarifying this and we’ll act appropriately,” she said, adding that the Foreign Ministry was investigating the issue.

At the end of 2009, Egyptian deposits in Swiss bank accounts totalled 3.6 billion Swiss francs (about $3.5 billion), according to the Swiss National Bank.

Source: AP


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