Egypt's Hosny Mubarak has $70 billion in foreign banks...

Ousted President Hosny Mubarak reportedly has $70 billion in foreign banks according to a report by the Egyptian General Intelligence’s National Security Commission published in the state run newspaper Akhbar-El-Youm on 26 July.

The report claims that Mubarak, using assumed names, transferred EGP 50 billion on 25 January 2011. Most of his money is reported to be in Swiss, American and British banks. The Commission’s report also claims that Mubarak has EGP 35 billion worth of real estate inside Egypt, gained through abuse of influence.

“All of these numbers are estimates and guesses. No one can find how much money the family has,” said Assem Abdul Mo’ty, Honorary Chairman of the Central Accounting Apparatus’ watchdog organisation, Observers Against Corruption.

The report not only touches on Mubarak’s amassed wealth but also on that of his entire family: his wife, Suzanne Mubarak, and their two sons Gamal and Alaa. All of them except for Suzanne are currently behind bars. Full story...

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