Mubarak's funds in the UK may have flown

The UK was unable to act on assets held by former Egypt regime figures before receiving instructions to do so by the EU

Mubarak's fund in the UK seems to be untouchable. “Mubarak and his family might have already transferred their funds in the United Kingdom to another destination where they can't be followed,” anonymous British officials told today's Al-Ahram daily newspaper.
The spokesman of the British secretary of treasury added that the request to freeze the assets of 19 Egyptians officials, including those of Hosni Mubarak and his family, was placed too late.
The explanation given is that the UK couldn't have taken any measure regarding transferred funds of former Egyptian officials before an official request was issued by the EU, which happened on 21 March. The British government was informed one day after.
“The UK has no legal power to help recuperating funds that were transferred before the 22nd,” said the source who added that there was an important lag between the placement of the Egyptian official request and the issuing of the EU request which allowed the transfer of the funds from Britain to other destinations.
The general prosecution has delivered, one month ago, to the British prosecution documents including witnesses and receipts of money transfer and accounts numbers but the unit of fund's freezing in the British treasury considered the documents not sufficient to take legal action concerning any money that might be in Britain.
Mohamed Mahsoub, general secretary of the Egyptian Group to recuperate the Egyptian people's wealth abroad commented on the British declarations saying that they lack legal basis. “They show clear bad faith and procrastination in revealing Mubarak and other officials' funds,” Mahsoub told Al-Ahram.
Mahsoub added that according to the international convention to combat money laundering and the international convention to combat corruption, the British authority had to freeze the assets immediately after the outbreak of the revolution without the need of an Egyptian request as happened in the case of Libya's Muammar Gaddafi.
“The British declarations are not clear. They didn't say if the Egyptian officials still have funds in London or not. And if they still do, why don't they freeze them?” asks Hossam Issa, president of the group. Issa thinks that the Egyptian government was not serious about requesting a freeze on the assets.
“It's a crime against the Egyptian people, the only solution is to imprison these people till they give back the money,” he added. Hossam Issa believes that Ahmed Aboul-Gheit, the former foreign minister, was very slow in activating and following the requisite procedures.