Suzanne Mubarak's assets to be transferred to Central Bank

Suzanne Mubarak's assets to be transferred to Central Bank

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Thu, 27/12/2012 - 20:19

Suzanne Mubarak’s funds are to be transferred to the Central Bank of Egypt (CBE) at the request of the Illicit Gains Authority (IGA).

Prosecutor General Talaat Abdallah on Thursday approved the IGA’s request to have the former president’s wife’s assets transferred out of the National Bank of Egypt and NSGB to the CBE. They will be transferred into a deposit account in the name of the Finance Ministry.

The IGA had previously ordered the seizure of all funds belonging to Mrs. Mubarak as well as her sons Alaa and Gamal pursuant to investigations into charges of corruption and graft.

The transfer is reported to amount to LE27 million, said Al-Masry Al-Youm.

Edited Translation from MENA