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Egypt recovers $1.8 bln of Mubarak-era looted funds
Deputy General Attorney reveals that $1.8 billion in appropriated funds and lands have been recovered, with another $9 billion on the horizon
Ahram Online Published in Ahram Online on 11 - 11 - 2012

Egypt has recovered around $1.8 billion in funds and lands corruptly appropriated by Mubarak-era figures, the state-run daily newspaper Al-Ahram reports on Sunday.
Investigations starting a month after Egypt's January 25 Revolution began in 2011 were fruitful and made it possible for Egypt to retrieve these funds last month, said Deputy General Attorney Adel El-Said on Saturday.
The governmental authorities are working now on banking up around $9 billion from specific persons working under the ousted president Mubarak's umbrella who have been found guilty of corruption.
According to Egypt's newly-elected president, Mohamed Morsi, the recuperated funds will be deposited in a new account at the Central Bank no. 333/333.
Morsi encourages citizens and Egypt-based expatriates to support the Egyptian economy with financial donations through the same account.
In August, Egypt's Ministry of Justice considered forming a committee to trace and recover Egyptian assets moved overseas by members of the old regime.

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