FILE - In this Feb. 8, 2011 file photo, Egyptian President Hosni Mubarak sits during his meeting with Emirates foreign minister, not pictured, at the Presidential palace in Cairo, Egypt. Egypt's vice president says Mubarak resigned on Friday, Feb. 11, 2011 as president and handed control to the military. (AP Photo/Amr Nabil, File) (AP)

Switzerland freezes any assets tied to Mubarak

The Swiss Government has decided to freeze all assets that belong to the ousted Egyptian president


Associated Press
February 11, 2011 11:39PM (UTC)

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.

Advertisement:

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.


Associated Press

MORE FROM Associated Press


Related Topics ------------------------------------------

Africa Egyptian Protests Middle East

Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •