Assets Owned by Tunisia’s Ben Ali Are Held Abroad, FT Reports

Cash and investments controlled by Tunisia’s former President Zine El Abidine Ben Ali, his family and allies are still locked in 12 nations including the U.K., the U.S. and France, the Financial Times reported.

Assets abroad are being pursued by a lawyer, while money in Tunisia is in the hands of the judiciary, the state properties ministry or the finance ministry, with the government unsure yet what to do with it, the newspaper said. Identifying and recovering assets “takes a lot of time,” the FT cited Mustapha Kamel Nabli, the central bank’s governor, as saying.

Cash, equities and real estate owned by Ben Ali and people close to him are estimated to be worth as much as billions of dollars, the FT said.

To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.