Egypt retrieves £11 billion pounds from former regime

Former president Hosni Mubarak Akram Ali – Cairo Egypt has announced that it has retrieved £11 billion pounds through questioning members of the former regime. Spokesperson for Egypt’sPublic Prosecution Adel Saeid said the public prosecution received a number of reports during the January 25 revolution. “Extensive and continuous investigations were carried out and the former president, members of his family, a number of former prime ministers and some businessmen belonging to the dissolved National Democratic Party, were all referred to criminal courts,” he said. Investigations by the public prosecution into crimes relating to public funds during the period from 1 February 2011 to 31 October of this year resulted in the state retrieving £11 billion pounds. The report also puts the funds collected as part of conviction sentences during the period from 1 February 2011 to 31 October 2012 at over 5 billion Egyptian pounds. Public Prosecutor Mahmoud Abdulmegeid ordered all government bodies to execute financial penalties against any funds belonging to a convicted person. He also issued orders that they follow up with procedures aimed at locating funds inside the country through the requests of judicial assistance forwarded by the public prosecution to foreign states via diplomatic routes. The spokesperson said that prison sentences issued against detainees are being executed in the Egyptian penal system. On the subject of those accused of crimes who have gone abroad to escape trial, the Saeid said that they are being pursued legally to be detained in accordance with the Public Prosecutor’s orders. He also said that the prosecutor stresses speedy investigations into reports and the announcement of conclusions as soon as they are finished. A judicial source said the timing of these reports from the public prosecution is aimed to improve their image following attacks against them. “This report will lessen tensions between the Public Prosecutor and those demanding for his resignation,” the source said, adding that it would also “increase his credibility” if more details appeared. Foreign reports put the amount smuggled outside the country by Mubarak’s men at 132 billion Egyptian pounds.