Switzerland Blocks $1.1 Billion in Assets Tied to Arab Dictators
Switzerland is blocking about 1 billion Swiss francs ($1.1 billion) of illegal assets tied to the former leaderships of four countries at the center of the Arab Spring unrest.
“Politically exposed persons, such as head of states and high public officials, who illegally enrich themselves through state funds, deprive their state of capital and hinder the development of their country,” according to the statement.
Switzerland is talking to Egypt about 700 million francs that was hidden by former President Hosni Mubarak and his aides, the ministry said.
The Swiss government has also seized money tied to Syria, where rebels are fighting to overthrow President Bashar al- Assad, and to Libya’s Muammar Qaddafi.
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