Switzerland freezes assets of 31 former regime figures

Via Egypt Independent

The Swiss Embassy in Cairo said on Tuesday that Switzerland has frozen the assets of 31 figures from ex-President Hosni Mubarak's regime.

The statement added that the fact that someone’s name is on the list does not necessarily mean they have funds in Switzerland.

The statement said that 17 names were added to the original list of 14 following consultations with Egyptian authorities.

According to the statement, Switzerland immediately decided to freeze the funds of 14 former regime figures after the fall of Mubarak in February 2011.

It also said that Swiss authorities were quick to take measures to prevent the funds from being smuggled out before Egyptian authorities launched their investigations.

Thanks to close cooperation between Egyptian and Swiss judicial officials, Swiss authorities were able to track and freeze assets worth 410 million Swiss francs, the embassy added, bringing the total amount of frozen assets to US$700 million.

Edited translation from MENA

via www.egyptindependent.com