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Egypt court upholds Mubarak asset freeze
Bikya Masr Published in Bikya Masr on 09 - 03 - 2011

CAIRO: The Cairo Criminal Court on Tuesday upheld the Attorney General's decision to freeze the assets of former President Hosni Mubarak and his family, including his wife, two sons, daughters-in-law and grandsons.
The court ruling applies to cash, real estate, shares and securities in banks and companies.
Local newspapers stated that the court issued the ruling despite the absence of a lawyer to represent Mubarak and his family, as the court refused to postpone its ruling until the lawyers are present.
Mustafa Bakri, a former MP and an opposition figure, has provided documents that indicate the Mubarak family has secret bank accounts of more than 200 million Egyptian pounds (U.S. $35 million).
The Mubarak family is believed to have a fortune worth U.S. $70 billion, according to media reports.
On Tuesday, Egypt's Stock Market received a new list from the Attorney General with names of 23 officials and businessmen banned from travelling or trading their assets, reported state news agency MENA.
The stock market announced the list includes names of some former ministers and their families, such as former Prime Minister Ahmed Nazif, former Minister of Finance Boutros Ghali, the brother-in-law of Alaa Mubarak, and the father of Gamal Mubarak's wife, tycoon Mohamed Adul Enein.
BM

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