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Mubarak's lawyer: My client has no assets abroad

December 25, 2017 at 9:31 am

Former Egyptian President, Hosni Mubarak [TG Post/Facebook]

Farid al-Deeb, the lawyer of the former Egyptian president, Muhammad Hosni Mubarak (1981-2011), has disclosed that his client does not own any assets of any kind abroad.

In a statement, on Sunday, al-Deeb regarded “the statement issued by the Swiss Federal Council a few days ago on the cancellation of the custody of the assets of Mubarak regime’s men a definite confirmation that Mubarak has no assets abroad.”

He stressed that the Swiss decision talked about freezing the funds of Mubarak’s regime without mentioning the name of the former president in particular.

Al-Deeb added that “Mubarak has not been subject to any direct or indirect foreign investigations in any country in the world.”

He said that “the Swiss federal decree that was issued on 11 February 2011 on the freezing of funds of a number of Egyptian personalities, which included the name of Mubarak at that time was based on rumours in the media but were not based on firm information about the existence of assets he owned in Switzerland.”

Al-Deeb also said that “At that time, Mubarak definitely denied the rumours about the direct or indirect possession of any assets abroad.”

Read: Switzerland lifts freeze on Mubarak’s assets

Last Wednesday, the Swiss authorities announced that “in the context of the failure of the recent mutual legal assistance procedures between Switzerland and Egypt, it had decided to cancel the freeze of Egyptian assets estimated at 430 million Swiss francs ($436 million US) with immediate effect.

Following the revolution of 2011, Egypt handed over to Switzerland the files of more than 20 personalities and Egyptian families requesting the seizure of their movable and immovable funds. These included the Mubarak family, government officials, the dissolved former ruling National Democratic Party and businessmen who were closely associated with the Mubarak regime.

In November, Switzerland decided to end legal cooperation with Egypt over the smuggled funds because of the lack of legal aid from Egypt.

At that time, the Egyptian prosecution responded explaining that there were ongoing investigations into the persons requesting legal assistance and that the process was incomplete.