Africa
Switzerland says 'illegal assets' found
Official claims millions of dollars linked to Gaddafi, Mubarak and Ben Ali
frozen following blocking orders.
Last Modified: 02 May 2011 22:27
Mubarak has strenuously denied charges he amassed wealth or stashed away funds
in foreign bank accounts [AFP]
Switzerland claims it has found $416 million of potentially illegal assets
linked to Muammar Gaddafi, Libya's leader, and his circle.
Separately, about $473m traced to Hosni Mubarak, the deposed Egyptian
president, and $69mn linked to Zine El Abidine Ben Ali, the ousted Tunisian
president, have also been identified, Lars Knuchel, a Swiss foreign ministry
spokesman, said on Monday.
"These amounts are frozen in Switzerland following blocking orders by the Swiss
government related to potentially illegal assets in Switzerland," Knuchel said.
He declined to name the banks in which the accounts or properties are held.
Mubarak has strenuously denied amassing wealth or stashing away funds in
foreign bank accounts.
Both Tunisia and Egypt - where unrest led to the ousting of their respective
leaders - are in touch with Swiss judicial authorities regarding their formal
requests for legal assistance to seek return of the funds, according to Knuchel.
No such discussions are under way with authorities in Libya, where Gaddafi is
clinging to power in the face of an uprising and NATO air raids.
Switzerland, a neutral nation, had previously announced that it was freezing
any assets linked to the three north African leaders, thereby requiring
financial and other institutions to report any suspicious funds.
Swiss authorities also froze assets belonging to Ivory Coast's now deposed
president, Laurent Gbagbo, in January.
Switzerland has worked hard in recent years to improve its image as a haven for
ill-gotten assets.
Its cabinet has previously taken blocked funds in accounts held by deposed
leaders including Ferdinand Marcos of the Philippines and Nigeria's late Sani
Abacha, buying time for foreign prosecutors to build a case for restitution of
funds.
Knuchel said that Switzerland had returned $800m held by Abacha to Nigeria,
although it took four to five years to complete legal proceedings.
"It was a good example of restitution," he said.
The Swiss finance ministry said earlier on Monday it had started proceedings to
return assets of the former Haitian dictator, Jean-Claude Duvalier, frozen
since 1986, to the Haitian government.
Source:
Agencies
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