Monday, February 21, 2011

Mubarak's Assets Of Up To $70 Billion Frozen By Egypt - Video


CAIRO — Egypt's top prosecutor requested on Monday the freezing of the foreign assets of ousted president Hosni Mubarak and his family, announced state TV.

Security officials said that the prosecutor general asked the Foreign Ministry to contact countries around the world so they can freeze his assets abroad. The president's domestic assets were frozen soon after he stepped down, they added.

The freeze applies to Mubarak, his wife, his two sons and two daughters-in-law, said the officials, who spoke on condition of anonymity because they weren't authorized to talk to the press.

The announcement came as British Prime Minister David Cameron arrived in Cairo to meet with top Egyptian officials, the first trip of a world leader since Mubarak's fall. He said he would talk to those in charge to ensure "this really is a genuine transition" to civilian rule.

Egyptian state media on Sunday had quoted Mubarak's legal representative as saying the former president had submitted to authorities a declaration that he had no assets abroad. The former president is believed to currently be residing in his estate at the distant Red Sea resort of Sharm el-Sheikh.

Egypt has so far asked for asset freezes of one top businessman and former ruling party official, as well as four former Cabinet ministers and detained them pending investigations.

The Mubarak's family's wealth – speculation has put it at anywhere from $1 billion to $70 billion – has come under growing scrutiny since Mubarak's Feb. 11 ouster opened the floodgates to three decades of pent-up anger at the regime. [..]

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