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Former Egypt official transferred US$620 million from UK to Switzerland

Mohamed Mahsoub, secretary-general of the popular "Egyptian Front for Reclaiming the People’s Wealth," said the group had documents in its possession proving that certain former Egyptian officials had transferred large amounts of money to foreign banks, where they had also deposited large numbers of gold and platinum ingots.

“We plan to submit these documents to the attorney-general and the prime minister,” Mahsoub said.

He also said that one former Egyptian official had transferred some US$620 million from Barclay's Bank in England to UBS Bank in Switzerland.

He also said that the attorney-general had asked Egypt's foreign ministry to monitor foreign bank accounts belonging to ousted president Hosni Mubarak and his immediate family.

Mahsoub called on Egyptian citizens to send any additional information they might have to the group’s website, www.elgrpw.org.

“We have received calls from several financial institutions informing us of huge money transfers,” he said. “But since we are not a formal institution, we can only pass on this information to the competent authorities.”

Translated from the Arabic Edition.

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