GENEVA, Switzerland: A Swiss non-governmental organization announced that four Swiss banks are accused of keeping frozen accounts belonging to former Libyan, Egyptian and Tunisian regime members. The organization, which is concerned with Swiss financial principals and markets, said they revised the accounts of 20 banks that dealt with politicians and activists whose accounts the Swiss government had already frozen. The organization proved that the four banks, whose names have not been announced, did not apply the correct financial procedures and principals stated in the financial laws regarding frozen accounts. The Swiss government announced the freezing of 830 million Swiss Francs (U.S. $915 million) belonging to former Egyptian President Hosni Mubarak and members of his regime. Swiss media reported the freezing of $35 billion belonging to 29 former regime members. The investigations found that 22 of those accounts have no wrongdoing associated with them, whereas the other seven are deemed suspicious due to their illegal activities and incompliance with the rules.
