Swiss team to examine helping Egypt retrieve frozen assets

A team of experts from Switzerland and its eastern neighbor Liechtenstein will meet with Egyptian authorities Tuesday to discuss the possibility and conditions of offering judicial assistance, especially with regards to frozen Egyptian assets in Switzerland.

A statement released by the Swiss Embassy in Cairo on Thursday said Egyptian and Swiss authorities must demonstrate the illegitimacy of any frozen assets in order for Egypt to retrieve the money.

The Swiss Embassy announced that it is willing to cooperate and provide Egypt with the necessary technical support, within the framework of judicial cooperation with Egyptian authorities.

The embassy said following former President Hosni Mubarak’s resignation in February, Switzerland froze assets belonging to prominent Egyptians worth about CHF410 million, or  LE2.8 billion.

The Swiss delegation is expected to hold a press conference Wednesday to discuss the frozen assets of former officials, including Mubarak.

Translated from the Arabic Edition

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