Mubarak sons' $340mn in Swiss banks

Tue Oct 18, 2011 3:44AM GMT

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Alaa Mubarak (L) and his brother Gamal, the sons of Hosni Mubarak, at a court hearing in Cairo

Egyptian officials say the sons of former US-backed dictator Hosni Mubarak have millions of dollars in bank accounts in Switzerland.

Egyptian Deputy Justice Minister Assem al-Gohari said on Monday that Gamal Mubarak and his brother Alaa have $340 million in Swiss banks, Reuters reported.

"The committee has obtained information that confirms that Mubarak's sons have deposits in Swiss banks worth $340 million, of which Alaa owns $300 million," said Gohari, who is also the head of the Illicit Gains Authority.

Alaa, who is under arrest in Egypt, along with his father and his brother, on charges of corruption and abuse of power, may face charges of money-laundering in Switzerland, the Egyptian official said.

The sons are also standing trial in Egypt for complicity in the killing of protesters during the country's popular revolution.

Mubarak himself is charged with ordering the killing of protesters.

The Swiss government froze assets worth $450 million belonging to Mubarak's family and other regime figures after the dictator was overthrown in February, Gohari added.

Switzerland has promised to accelerate the return of frozen funds to Egypt.

MA/HGL