CAIRO: Former Egyptian first lady Suzanne Mubarak is accused of money laundering and other financial corruption accusations by the Swiss General Prosecutor, who said she withdrew $191 million from the Women for Peace Foundation she started in Geneva after the ousting of her family's regime last February. The Swiss federal investigators are currently looking into the financial violations committed by Mubarak and her deputy Aliya Bedary, who resides in Switzerland, and found money laundering and tax evasion estimated to be some $962 million in total, which has led the Swiss government to freeze the money, which was initially deposited under Mubarak's name. The $962 million was the sum of regional and international donations she received to start the organization that the Swiss authorities have now frozen as well as stopped their activities and reclaimed their offices. The investigation has also found that between May 2006 and December 2010, the organization received a sum of a $1.23 billion and that the money was deposited in her name without referring to the organization. The Swiss authorities also said that Mubarak withdrew $191 million following the uprising that ousted of her husband, Hosni Mubarak, after 30 years in power, which is a violation of the Swiss law. They added that the money was withdrawn by her deputy Bedary who then transferred it to a bank in Panama and 72 hours later to a number of banks in the The Cayman Islands, where the money has since vanished. The organization was started to fight human trafficking, especially between Egypt and Israel where many eastern Europeans cross the borders to be sold. The message of the organization helped generate great funds and zero results, as the money has been mostly involved in the financial scam. The investigation revealed that Samih Sawiris, telecom tycoon turned political leader Naguib Sawiris' brother, is one of the 16 members who was involved in the organization. BM ShortURL: http://goo.gl/2TnKk Tags: Money Laundering, Scam, Suzanne Mubarak, Switzerland Section: Business, Egypt, Latest News, Women
