Maintenance. We are currently updating the site. Please check back shortly
Members login
  • TrustLaw
  • Members Portal
Subscribe Donate

Spain seizes assets owned by Egypt's Mubarak

Source: Thomson Reuters Foundation - Thu, 13 Dec 2012 13:25 GMT
Author: Reuters
Reuters
Tweet Recommend Google + LinkedIn Email Print
Leave us a comment

MADRID, Dec 13 (Reuters) - Spanish police have found 28 million euros (${esc.dollar}36.5 million) in assets owned by ousted Egyptian president Hosni Mubarak and people close to him, including Marbella beach properties and luxury cars, the government said on Thursday.

Egypt had asked Spain to track down assets in the country belonging to the former president and more than 100 people with ties to him, including family members, people who held high-level posts in his government and business leaders.

Spain's interior ministry said it had frozen 18.4 million euros worth of the assets, but did not say whether it would also freeze the remainder.

The properties include two houses in La Moraleja, a wealthy neighbourhood of Madrid, seven properties in the Mediterranean beach resort of Marbella, financial products in three banks and also luxury vehicles, the ministry said in a statement.

"The assets could come from crimes such as embezzlement or corruption," the government statement said.

Egypt has asked several countries in Europe and elsewhere to locate assets of Mubarak and people close to him. Switzerland has also frozen assets of the former Egyptian president.

Mubarak, who ruled Egypt for three decades, was forced out in February 2011 after a popular uprising.

In June, he was sentenced to life in prison for his role in killing protesters during the uprising. He is currently in a military hospital because of health problems.

(${esc.dollar}1 = 0.7669 euros) (Reporting by Fiona Ortiz; Editing by Sarah White and Jane Merriman)

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of the Thomson Reuters Foundation. For more information see our Acceptable Use Policy.

comments powered by Disqus
Most Popular
LATEST SLIDESHOW

Latest slideshow

See allSee all
FEATURED JOBS
Featured jobs