Swiss embassy says investigation into Mubarak’s assets continues 'independently'

Swiss authorities have informed Egypt’s Prosecutor-General of the closure of the joint legal efforts that started in 2011 over the frozen funds of former president Hosni Mubarak, who was ousted in a popular uprising, the Swiss embassy in Cairo said in a statement on Wednesday.

Switzerland’s judicial authorities informed Egypt’s top prosecutor Nabil Sadek of the decision on 28 August, 2017.

Investigations will continue in both Switzerland and Egypt but “independently”, the embassy noted, adding that a final decision has not yet been made on the investigation or Mubarak’s frozen assets.

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Switzerland’s judicial authorities said that legal requirements have not been met with regard to Switzerland’s relation to the charges levied against Mubarak, the statement went on.

The closure of the Swiss-Egyptian joint investigation does not mean that the two states cannot support each other’s investigations on the matter, the embassy added, noting that the freeze Mubarak’s assets, which equal $430 million.

Mubarak’s lawyer Farid Al-Deeb told Anadolu Agency that the former president does not have any funds outside of Egypt, and that those funds belong to his sons Gamal and Alaa Mubarak in addition to other officials that he did not name.

Deeb praised the Swiss decision, saying it paves the way for the assets to be returned to their owners after they were acquitted of most charges levied against them.

In the wake of the 2011 Uprising, Egypt submitted the files of more than 20 Egyptian persons and families, requesting that asset freezse be imposed on those figures. Those whose names were on the list included Mubarak’s family members as well as a number of officials from the ousted president’s regime.

Mubarak was acquitted in a court case on the killing of protesters in 2011, and other case on the exportation of gas to Israel. But he was charged and sentenced for three years in a corruption case. He is still facing trial in two other cases that are now being considered, including one that is also related to corruption.

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Mubarak’s two sons were acquitted of charges in all court cases, except for a lawsuit on corruption stock market dealings.

Other key figures in Mubarak’s regime, such as business tycoon Hussein Salem who was known for having close relations with Mubarak, have reached reconciliation agreements with the state. Salem currently lives in Spain.