Update 15 February Bern, Switzerland (GenevaLunch) – Assets that may have been deposited by Hosni Mubarak and those close to him were the target of a Swiss government directive to banks and other financial institutions within 30 minutes of the announcement of his resignation Friday 11 February.
The Swiss government’s decision but not the amount of assets that could be affected were confirmed by Swiss President Micheline Calmy-Rey Friday evening 11 February, at 17:45 Swiss time, while she was on an official visit to Madrid, Spain.
The Federal Finance Department issued a new ordinance to banks to seek and freeze any assets with a link to the newly-resigned president. This includes any real estate holdings, which cannot be sold or transferred.
The announcement by Bern falls in line with Switzerland’s programme to freeze assets of deposted dictators to determine if they were legitimately gained.
Estimates have varied widely for the amount of money Mubarak and his friends and family may have in Switzerland and elsewhere. Ed. note: GenevaLunch incorrrectly implied in an earlier version of this post that CHF3.6 billion in Egyptian money in Switzerland may have belonged to Mubarak. The figure covers all Swiss bank liabilities to Egypt and Egyptians in 2009.
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
News story, GenevaLunch, 11 February 2011.
Tags: dictator, Egypt, frozen assets, Micheline Calmy-Rey, Mubarak, potentate
February 14th, 2011 at 8:29 am
The Swiss government can no longer claim neutrality in any international affairs. They have capitulated trust with their secret bank accounts and tax havens. They are just another country bowing to zionist imperialists. Put the real money in the caliphate banks from now on.