Swiss to Take up Egyptian Request to Seize More Mubarak Assets

Swiss authorities will consider Egypt’s request to seize more assets of deposed President Hosni Mubarak and other regime officials, an Egyptian official says.

A spokeswoman for the Department of Justice and Police said assets seized by Switzerland so far amount to $862.6 million, al-Masry al-Youm reported Tuesday.

Switzerland had seized assets belonging to Mubarak, his family and regime officials a day after he was forced from office in 2011, the spokeswoman said. However, seizure efforts ended in December 2012 after now-deposed President Mohamed Morsi issued a declaration that Swiss officials feared would lead to political instability.

She said Swiss officials had agreed to consider in February Egypt’s request to resume the seizures.

Saher Hamza, the Egyptian ambassador to Switzerland, said Egypt has difficulty proving the people whose assets have been seized committed crimes or that the assets are related to criminal activity.

The assets of some 32 people, including Mubarak, have been frozen by Swiss authorities, he said, but that freeze will end in February.

Source: UPI