Egypt Independent

Case on freezing Mubarak assets adjourned to Wednesday



Giza’s Criminal Court on Monday postponed to 26 October the first hearing on the decision of the Illicit Gains Authority’s (IGA) to freeze the assets of former President Hosni Mubarak and his family.

In addition to Hosni Mubarak, the decision includes freezing the assets of his wife and his two sons, Alaa and Gamal, and their wives.

The court was adjourned to give lawyers representing Mubarak and his family a chance to obtain all the documents connected with the trial.

Mubarak and his sons have been charged with corruption, and all three are under arrest. Mubarak is also charged with complicity in the killing of about 850 protesters during the 18-day uprising that ousted him from the office.

Assem al-Gohary, head of the IGA, is also heading a committee that was formed to repatriate assets siphoned abroad by Mubarak and his family.

On 29 September, the committee became a plaintiff in the case in which Mubarak’s sons, Alaa and Gamal, former Tourism Minister Zoheir Garrana and businessman Yasin Mansour are accused of creating a gang to launder money abroad.

Last week, Gohary said the committee had learned that Alaa and Gamal Mubarak have US$340 million (nearly LE2 billion) in Swiss banks, US$300 million of which belongs to Alaa.

Switzerland has already frozen the assets of the Mubarak family and other figures from the former regime, which al-Gohary estimated at nearly US$450 million.

The committee relayed the information to the IGA in order for it to take the necessary steps. The IGA froze the assets and asked the Court of Appeal to hold an urgent hearing for the consideration and support of its decision.