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Cairo court rejects Mubarak appeal over frozen accounts

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The Cairo Court of Appeals upheld a ruling freezing all domestic and foreign bank accounts held by ex-President Hosni Mubarak and his family, rejecting an appeal from his lawyers.

The Cairo Court of Appeals upheld a ruling freezing all domestic and foreign bank accounts held by ex-President Hosni Mubarak and his family, rejecting an appeal from his lawyers.

The Egyptian Prosecutor General's Office ordered on February 21 the seizure of all accounts belonging to Mubarak and his family.

Egypt also asked the United States and European countries to freeze the assets of the country's ousted leader and his family and ordered an investigation into Mubarak's financial dealings.

Some media reports said Mubarak managed to shift his wealth, estimated at between $40 billion and $70 billion, to secret bank accounts.

Mubarak stepped down on February 11 after 18 days of large-scale anti-government protests throughout Egypt, which left more than 360 people dead and about 5,500 injured.

 

CAIRO, March 5 (RIA Novosti)

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