International News
Switzerland Freezes All Assets Tied to Mubarak
February 11, 2011 · 2 Comments
GENEVA (Somalilandpress) — 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 to block any bank accounts takes effect immediately but gave no details on the family’s assets. 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.
Hosni Mubarak (CBS)
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 don’t have any very clear indications that anything is here, but of course we’re in the process of clarifying this and we’ll act appropriately,” she said.
She said the Foreign Ministry was investigating the matter.
At the end of 2009, Egyptian deposits in Swiss bank accounts totaled 3.6 billion Swiss francs (about $3.5 billion), according to the Swiss National Bank.
Reports of Mubarak’s personal assets range from $2 billion to $70 billion (though U.S. officials described the top figure as wildly exaggerated, according to NBC News).
According to ABC News, Mubarak accumulated some of his wealth through military contracts starting in his early days as an Air Force Officer. It’s unclear how much money the former Egyptian leader made through government corruption of public funds.
A leading figure of the protest movement, Google executive Wael Ghonim, called for Mubarak to surrender any money attained improperly.
“The money Mubarak and his family stole out of the Egyptian people should go to families of martyrs and to reconstruct Egypt,” Ghonim tweeted.
Sources: CBS/AP| 11 Feb 2011
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Tags: Assets, Egypt, Mubarak, Switzerland
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Now that the 30 year autocratic Military dictator Mubarak has been finally brought down in the popular
uprising by the Egyptian people and since 1952-2011 under Military rule the lingering question now
will be what will the face of Egypt look like after Mubarak. Continuation of Military rule or change to Civility
rule. This very crucial aspect is another phase awaiting the Egyptian uprising to be going through
which is another difficult aspect to overcome. Also what happens to Egypt's ally Omar Albashir
another Military dictator who disgraced Sudan and sought by the ICC for genocide war crimes.
In my view he's incapable to remain in power and should follow Mubarak.
What's happening
in Somalia TFG/Alshabab/Puntland piracy trafficking infested and Yemen are too no exception to be
removed out of powers. In principle all African/Asian Military dictators must be replaced by Civic
society Govts. in exactly like the Western World and then the all technocratic democratic human
races(beings) should peacefully co-exist under the universal charter norms of economical
developments and less Arms Races and military conflicts. The more there's justices the more
mother nature will love us the way mothers love their offsprings.
Cheers.