Babylon & Beyond

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EGYPT: Switzerland freezes possible Mubarak assets

February 11, 2011 |  9:42 am

Protest6 Switzerland has frozen assets possibly belonging to Hosni Mubarak, who stepped down as president of Egypt on Friday after 30 years of rule, a spokesman for the foreign ministry told Reuters Friday.

“I can confirm that Switzerland has frozen possible assets of the former Egyptian president with immediate effect,” spokesman Lars Knuchel told Reuters.

Knuchel declined to specify how much money was involved.

In recent years, Switzerland has worked hard to improve its image as a haven for ill-gotten assets and has also frozen assets belonging to Tunisia's former President Zine al-Abidine Ben Ali as well as those of Ivory Coast's Laurent Gbagbo.

-- Molly Hennessy-Fiske

Photo: An Egyptian woman cries in Cairo's Tahrir Square on Friday at news of the resignation of President Hosni Mubarak. Credit: Tara Todras-Whitehill/Associated Press