Friday, February 4, 2011

Mubarak family fortune could reach $70bn, say experts

Egyptian president has cash in British and Swiss banks plus UK and US property
Gamal and Hosni Mubarak

Gamal and Hosni Mubarak are reported to have built up huge fortunes, including properties in London.

President Hosni Mubarak's family fortune could be as much as $70bn (£43.5bn) according to analysis by Middle East experts, with much of his wealth in British and Swiss banks or tied up in real estate in London, New York, Los Angeles and along expensive tracts of the Red Sea coast.

After 30 years as president and many more as a senior military official, Mubarak has had access to investment deals that have generated hundreds of millions of pounds in profits. Most of those gains have been taken offshore and deposited in secret bank accounts or invested in upmarket homes and hotels.

http://www.guardian.co.uk/world/2011/feb/04/hosni-mubarak-family-fortune

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