Swiss Freeze More Mubarak Assets

Switzerland has frozen more assets belonging to former Egyptian president Hosni Mubarak and his associates, prosecutors said on Wednesday.

The Swiss authorities have now frozen about $700 million, compared to a previous figure of 410 million Swiss francs ($414 million), Jeannette Balmer, spokeswoman for Swiss federal prosecutors, said in a written statement.

Since the start of Arab uprisings last year, Switzerland has also blocked funds stashed in its banks linked to former Libyan leader Muammar Gaddafi, former Tunisian president Zine al-Abidine Ben Ali and Syrian President Bashar al-Assad.

The Swiss authorities are working closely with their counterparts in Egypt and Tunisia to get frozen assets of illegal origin returned to the people of the two countries as quickly as possible, Balmer added. ($1 = 0.9906 Swiss francs)

Reuters