Egypt Independent

Swiss investigate Mubarak links to money laundering gang



The Swiss Embassy in Cairo said on Tuesday that the Swiss authorities are investigating whether members of the family of ousted President Hosni Mubarak had joined a gang involved in money laundering.

The embassy also explained that, according to Swiss laws, Egypt would be absolved of having to prove the illegality of the family members’ frozen assets in Switzerland if they are found guilty of laundering money, which may expedite the return of the money.

Meanwhile, Assem al-Gohary, assistant justice minister for illicit gains affairs, met with the Cypriot acting ambassador to Cairo, Andreas Kasapis, to discuss the repatriation of money syphoned off to Cyprus.

Kasapis said his government is willing to cooperate with Egypt in this regard, in light of the good relations between the two countries.

Both sides agreed to meet again next month to follow up on the matter.

Translated from the Arabic Edition