Egypt’s Hosni Mubarak hiding billions in Switzerland

Latest news on If Egypt’s President Hosni Mubarak is forced into exile, he is likely to have access to billions in assets. But if Egypt’s successor government tries to recover any of it, it will have a hard time, if history is any judge. Estimates circulated inside the U.S. government, developed by various agencies, put Mubarak’s wealth at between $2 billion and $3 billion. How much of that total is outside of Egypt, and in what form, is uncertain. How much is recoverable is an even smaller fraction. AP reported that some in Egypt believed Mubarak controlled $70 billion in assets, but U.S. officials dismissed that number as wildly exaggerated. They noted that Bill Gates, the richest man on the Forbes 400 list, is worth $53 billion.

There is now suggestions that some of these funds are in Switzerland.

Article viewed at: Oye! Times at www.oyetimes.com
 

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