Ousted North Africa Dictators' Bulky Assets Come to Light

Hosni Mubarak and his associates may have their assets frozen. File photo

Hosni Mubarak and Zine El Abidine Ben Ali, the recently toppled dictators of Egypt and Tunisia respectively, face tough financial issues in the aftermath of the protests which lead to their removal.

Egypt's Chief Prosecutor has demanded that the domestic and foreign assets of Hosni Mubarak and his associates be frozen by the country's Foreign Ministry.

Earlier in February, Chief Prosecutor Abdel Meguid Mahmoud, Mahmoud froze the assets of several other former high-ranking Egyptian officials and banned them from leaving the country.

"The former President Hosni Mubarak has submitted his final financial statement to the concerned judicial bodies according to the law," Mubarak's legal representative stated before the MENA news agency Sunday.

On February 11, Switzerland became the first country which froze the the former President's assets just 2 hours after he stepped down as a result of mass protests against his rule. According to Stefan von Below, the Ministry's spokesperson, it has since then received notifications from financial institutions "concerning amounts pertaining to tens of millions of (Swiss) francs,"

Meanwhile, some CHF80 M in assets belonging to former Tunisian dictator Ben Ali have already been reported and blocked by a total of thirty banks and financial institutions, Swiss federal police office spokesperson Dani?le Bersier said Sunday

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