Swiss Unblock Some Egypt’s Frozen Assets
World Economy

Swiss Unblock Some Egypt’s Frozen Assets

Blocked assets worth 180 million Swiss francs ($175.45 million) have been unfrozen by the Swiss Office of the Attorney General, the OAG said, after it dropped part of a criminal inquiry related to the Arab Spring in Egypt, Reuters reported. The OAG had been investigating “several” unnamed persons in Switzerland on suspicion of money laundering and supporting or participating in a criminal organization. The Swiss inquiry was launched in 2011 following events related to the Arab Spring protests which led to the downfall of long-time Egyptian leader Hosni Mubarak. The OAG announced the decision to unfreeze the assets following a meeting between Switzerland’s Attorney General Michael Lauber and his counterpart in Egypt over the weekend. Criminal investigations against six unnamed persons are now underway, the OAG said in a statement, while 430 million francs remain frozen. The Swiss prosecutor said that the frozen assets of Mubarak and figures associated with him will be returned to their legal owners when the probe is finished.


Short URL : https://goo.gl/NQ5ZEa
  1. https://goo.gl/722z9f
  • https://goo.gl/zDIsVL
  • https://goo.gl/tZr0Qk
  • https://goo.gl/qWzPsA
  • https://goo.gl/ZaMhcs

You can also read ...

Crisis in Madagascar as Vanilla Price Soars
Vanilla is one of the world’s most popular seasonings and an...
Profits of Thai Banks Fall
Thailand’s top four banks produced aggregate net profit of 37....
World Debt Load $164 Trillion : Debt, Protectionism Biggest Threats to Global Growth
The biggest threats to global economic growth are government...
Argentina’s Treasury Minister Nicolas Dujovne (L), accompanied by Argentina’s Central Bank Governor Federico Sturzenegger speak at a news conference after the G20 meeting on Friday.
Finance leaders from the Group of 20 major economies agreed...
Vietnam Still Facing Structural Risks
Despite the generally favorable medium-term outlook, there are...
In Emerging, Developing Countries : ILO: Over 700 Million Workers Living in Poverty
There were more than 700 million workers living in poverty in...
Euroland Progress Linked to Global Growth, Open Trade
The eurozone’s economy needs strong global growth and open...
AT&T, Verizon Under Federal Investigation
The US has opened a probe into alleged coordination by AT&...

Add new comment

Read our comment policy before posting your viewpoints