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Mubarak Used Time of Protests to Relocate Usurped Wealth
Mubarak Used Time of Protests to Relocate Usurped Wealth
Former Egyptian president, Hosni Mubarak has been accused of amassing a fortune of about £40 billion.
Monday, February 14,2011 23:36
IkhwanWeb

 

Former Egyptian president, Hosni Mubarak has been accused of amassing a fortune of about £40 billion. He gathered this huge amount of wealth illegally during his 30 years in power. His wealth is said to be tied up in foreign banks, investments, bullion and properties around the world in places like London, New York, Paris and Beverly Hills.

When Hosni Mubarak came to know that he would be forced to step down, he attempted to organize his assets in such a way that they would be out of reach of anyone seeking to investigate his financial affairs.

As pressure mounted from Egyptian investigators after Mubarak lost his grip on power, Swiss authorities announced they were freezing any assets Mubarak and his family may have in the country's banks. At the same time, the UK is under pressure to do the same. Having strong connections with the UK, Hosni Mubarak is believed to have many millions of pounds there. According to a senior Western intelligence source, Mubarak spent the last few weeks arranging and moving his vast fortune. With weeks to prepare himself, Mubarak may well have relocated any money he had in Zurich and put it elsewhere.

tags: Mubarak / Mubarak Regime / NDP / Corruption / Poverty / Egyptian Protestors / Egyptian Protests / Tahrir Square / Pro-Mubarak / Peaceful Protests
Posted in Democracy  
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