10/17/2011

Mubarak Sons Have $340M In Swiss Banks

Kleptocracy is the only word to describe this. No wonder the whole world is angry about venality and the obscenity of greed. The two sons of ousted President Hosni Mubarak have an estimated $340 million (£215m) in Swiss bank accounts, a senior Egyptian Justice Ministry official said today.
Assem al-Gohary said Swiss authorities are investigating whether one of the sons, Alaa, was involved in money laundering along with other ex-regime figures. At home, Mubarak and his sons have been charged with corruption and all three are under arrest. Mubarak is also charged with complicity in the killing of about 850 protesters during the January Egyptian uprising. 
Switzerland has already frozen the assets of the Mubarak family and other ex-Egyptian regime figures, which al-Gohary estimated at nearly $450 million. He added that most of those assets belong to the sons.
Rumors circulated during the uprising Mubarak and his sons amassed tens of billions of dollars in corrupt practices, helping drive the anger that brought him down. But where does the money go now? Back to the military regime for more arms deals with the US/Israeli axis?



2 comments:

  1. The Egyptian/Israeli 'special relationship' might come to an end.
    A military junta in Egypt will probably be more nationalist.
    And they might even challenge Riyadh.
    Their forces are the largest in the region.
    The 'brotherhood' is well positioned, even under a military leadership.

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  2. I hope the nationalist ticket wins it, Rz, but ME nationalists have a history of losing their principles when the petro-dollars and aero-dollars are circulating.

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