Egypt may receive report of the Mubaraks’ assets from France: official
Former President Hosni Mubarak - YOUM7 (Archive)

CAIRO:  Egypt may receive in a few days a report from France about frozen assets held there belonging to the Mubarak family, a judicial source from the Ministry of Justice said Sunday.

The official, who refused to give his name because he was not authorized to speak to media, told Youm7 that Egypt invited French officials to visit concerning that matter, adding that the meetings could be held next week.

Assistant Minister of Justice for Illicit Gain Affairs Youssef Othman announced Feb. 23 that France has agreed, in principle, for the first time to submit a report about the assets of former President Hosni Mubarak and his family, following a three-day visit to France.

An estimated 650 million Swiss francs ($664 million) was smuggled out of Egypt to Switzerland during former President Hosni Mubarak’s tenure, Swiss Foreign Ministry spokesperson Pierre-Alain Eltschinger previously told The Cairo Post. Switzerland is the only country to have revealed the amount of the smuggled money.

Over $ 1.5 billion in funds have been smuggled outside Egypt to several European countries, Othman said in an interview with CBC channel in November 2014.

Foreign and European countries stated previously that if the Mubaraks were convicted by a final court ruling stating they had smuggled public money, the assets could be disclosed and unfrozen.

On Nov. 29, Mubarak along with his two sons Gamal and Alaa, and Egyptian Businessman Hussein Salem were acquitted of wasting public funds by exporting gas to Israel at below-market prices. A day later, General Attorney Hisham Barakat filed a challenge against the acquittal verdicts to the Court of Cassation, the final appeals court.

The Mubaraks’ challenged in January against a court ruling of three and four years in prison over charges of embezzling public money.

Additional Reporting by Mohamed al-Aalam

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