12 Feb '11, 1am

Switzerland has frozen assets that may belong to Hosni Mubarak

Switzerland has frozen assets that may belong to Hosni Mubarak

Switzerland has frozen assets that may belong to Hosni Mubarak, who stepped down as president of Egypt on Friday after 30 years of rule. -- PHOTO: AFP ZURICH - SWITZERLAND has frozen assets that may belong to Hosni Mubarak, who stepped down as president of Egypt on Friday after 30 years of rule, the foreign ministry said. 'I can confirm that Switzerland has frozen possible assets of the former Egyptian president with immediate effect,' spokesman Lars Knuchel said soon after Mr Mubarak bowed to 18 days of mass protests. 'As a result of this measure any assets are frozen for three years.' He did not say how much money was involved or where it was. Assets belonging to Mr Mubarak's associates would also be targeted so as to limit the chance of state funds being plundered, the ministry said. Mr Mubarak and his associates would be prevented from selling or otherwise disposing of...

Full article: http://www.straitstimes.com/BreakingNews/World/Story/STIS...

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