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Spain seizes $36.5m worth of Mubarak assets

Millions of assets of ex-Egyptian president and associates located, including Marbella beach properties and luxury cars.
Last Modified: 13 Dec 2012 19:23
Mubarak has been sentenced to life in prison for his role in the deaths of protesters during Egypt's uprising [Reuters]

Spanish police have seized $36.5m in assets owned by Hosni Mubarak, the former Egyptian president, and people close to him.

Egypt had made an international request to block the assets, including Marbella beach properties and luxury cars, of 130 people associated with Mubarak's rule.

Spain's interior ministry said on Thursday it had frozen $24m worth of the assets.

The properties include two houses in La Moraleja, a wealthy neighbourhood of Madrid, seven properties in the Mediterranean beach resort of Marbella, financial products in three banks and several expensive vehicles.

"The assets could come from crimes such as embezzlement or corruption," a Spanish government statement said.

Egypt has asked several countries in Europe and elsewhere to locate assets of Mubarak and his associates.

Switzerland has also frozen assets of up to $441m linked to the former president.

Mubarak, who ruled Egypt for three decades, was forced out in February 2011 after a popular uprising.

In June, he was sentenced to life in prison for his role in the deaths of protesters during the uprising.

He is currently in a military hospital due to health problems.

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Source:
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