27 December 2012

Egypt: Prosecution Approves Confiscation of Suzanne Mubarak's Funds

Prosecutor General Talaat Ibrahim approved on Thursday the Illicit Gains Authority's request to transfer the funds of Suzanne Mubarak, the former president's wife, from the National Bank of Egypt and NSGB to the Central Bank of Egypt (CBE).

According to the Middle East News Agency (MENA), the authority had asked the prosecutor general to transfer the funds into a deposit account in the name of the Finance Ministry at the CBE.

The prosecutor general decided to confiscate 27 million Egyptian pounds from Suzanne Mubarak's funds to the CBE.

The Illicit Gains Authority had previously ordered the siezure of Suzanne Mubarak's assets and funds as part of siezing the funds of former president Hosni Mubarak and his sons Alaa and Gamal in light of the authority's investigations of claims that their fortunes have inflated in a manner inconsistent with their legitimate sources of income.

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