ISSN 2330-717X

No Post-Mubarak Thaw: Former President’s Assets Frozen

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Spanish officials say they have frozen $24.6 million in cash and investments in Spain belonging to toppled Egyptian President Hosni Mubarak and his family.

A number of luxury properties belonging to Mubarak and his family were also seized, the British newspaper The Daily Telegraph reported.

Using U.N. anti-corruption conventions, Egypt asked Spain to find and block assets owned by Mubarak, his family, top aides and related companies, a statement issued by Spain’s national police said.

Egypt
Egypt

Among the assets seized were two houses in La Moraleja, a luxurious Madrid residential district, valued at $9.5 million.

The Telegraph said seven other properties were seized in and around Marbella, a resort on Spain’s south coast popular with wealthy Arabs.

Officials also seized five luxury cars.

The report said a list of 130 people connected to Mubarak and his ousted regime were passed to Spanish officials.

Mubarak, 84, governed Egypt for three decades before being toppled in February 2011. He was sentenced by an Egyptian court last June for his role in the killing of demonstrators.

He is in a military hospital with severe health problems.



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Al Bawaba News

Al Bawaba News

Al Bawaba provides top stories and breaking news about the Middle East and the world. The Al Bawaba network consists of several web portals and media platforms.

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