Cairo, Oct 17: The two sons of deposed Egyptian President Hosni Mubarak have stashed a whopping USD 340 million in Swiss banks, a senior Justice Ministry official today said, as the military government stepped up efforts to bring back billions siphoned abroad.
 Alaa and Gamal Mubarak have illicitly parked USD 340 million in Switzerland, said deputy justice minister Assem El- Gohary, who also heads the Illicit Gains Authority which is assigned with retrieving illegally money stashed abroad.
 The major share - USD 300 million - was held by 49-year- old Alaa, Mubarak's elder son, a businessman who kept out of politics. The committee also announced that tycoon and Mubarak's confidant, Hussein Salem and his family have a fortune of USD 4 billion stashed outside Egypt, according to bank transfer records.
 Gohary said that icons of the former regime hid their fortunes abroad by establishing offshore companies that are not subject to money laundry regulations.
 According to Gohary, the committee was able to obtain information on their practicse through cooperation with "international financial intelligence" agencies and top law offices abroad, Egyptian newspaper Al Ahram reported.

Lastupdate on : Mon, 17 Oct 2011 21:30:00 Makkah time
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