25 July 2012

Egypt: Switzerland Freezes $ 900 Million of Former Regime Officials

Egypt's frozen funds in Switzerland are now up to 700 million Swiss francs ($900 million), according to a Justice Ministry official on Tuesday 24/7/2012.

"The Swiss authorities had notified Egypt that total frozen money owned by officials of the former regime are 410 million Swiss francs," said the Assistant Justice Minister for Anti-Graft Affairs Counselor Assem al-Gohari.

Gohari told that the committee tasked with the retrieval of looted and smuggled money has intensified its efforts in cooperation with world countries to restore Egypt's stolen funds.

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