Hosni Mubarak (Switzerland)

Jurisdiction of Origin : 
Position of Public Officials/Persons (Years in Office): 
President (1981-2011)
Jurisdiction of Recovery Effort / Asset Location: 
Jurisidction of Asset Recovery - Description: 
Undertaking Recovery Effort, Location of Recovery Effort, Asset Location / Alleged Asset Location
Recovery Start (Year): 
2011
Recovery End (Year): 
Ongoing
UNCAC Offenses Implicated: 
Money laundering Implicated?: 
No
Status of Asset Recovery : 
Ongoing
Asset Recovery Chain - Placement : 
Investigation/Asset Tracing/Asset Restraint
Assets Frozen (USD) - Current: 
$428,373,000
Disposition of Criminal Case(s): 

According to the New York Times, on June 2, Mr. Mubrarak was convicted on charge of being accessory to murder of demonstrators and sentenced to life imprisonment; he was acquitted of corruption charges. (Source: David K. Kirkpatrick, "New Turmoil in Egypt Greets Mixed Verdict for Mubarak," New York Times, June 2, 2012.) According to Swissinfo.ch, in May 2012, "The Federal Prosecutor’s Office launched criminal proceedings against a dozen people, including Mubarak family members and close associates, for money laundering and organised crime offences following the dictator’s fall from power in February last year." (Source: Swissinfo.ch, "Federal Court rules in favour of Egypt," May 10, 2012.)

Summary: 

According to the May 11, 2011 statement by the Swiss Federal Department of Foreign Affairs, CHF 410 million (US$428,373,000) in assets held by Egyptian individuals belonging to the former Mubarak government had been frozen in Switzerland. The statement noted: "The freezing of these assets does not demonstrate their legal or illegal origin. Thus, it is now up to the Egyptian judicial authorities to determine, through criminal proceedings, whether these assets were illicitly acquired. Switzerland hopes to be able to quickly return to the Egyptian people all frozen assets whose origin is proved by the Egyptian authorities to be illegal. It is ready to cooperate with the Egyptian authorities on international mutual legal assistance." (Source: Swiss Federal Department of Foreign Affairs, "Swiss delegation of experts in Cairo," May 11, 2011.) On February 11, 2011, the Swiss Government announced that it had passed a special ordinance blocking any assets in Switzerland of the former President Mubarak and parties close to him. The special ordinance (revised February 16) remains valid for three years. (Source: Federal Department of Foreign Affairs Media Release, "Federal Council orders freezing of any assets of Egypt's former President Hosni Mubarak in Switzerland," February 11, 2011, provides links to the special ordinances.)

Contributing Factors in Asset Recovery: 
Ongoing Case
Agreement / Arrangement re: Returned Assets?: 
Ongoing
Agreement / Arrangment re: Returned Assets (Explanation): 
NA
Intl Cooperation Mechanism: MLAT/Letter of Request: 
MLAT
Basis for Intl Cooperation Mechanism: 
Mutual Legal Assistance Treaty
Investigating Agency (JO): 
Prosecutor-General's Office
ProsecAuth/Civil Atty (JO): 
Prosecutor-General's Office
Courts Involved (JO): 
Cairo Appeals Court
Investigative Agency (JAR): 
Unknown
ProsecAuth/Civil Atty (JAR): 
Unspecified
Courts Involved (JAR): 
Unspecified
Sources : 

Verordnung uber Massnahmen gegen gewisse Personen aus der Arabischen Republik Agypten, vom 2. February 11, 2011 and revised on February 16, 2011, and accessed at official website of the Swiss Federal Confederation government website: http://www.admin.ch/dokumentation/gesetz/00068/index.html?lang=de&unters...

Federal Department of Foreign Affairs Media Release, "Federal Council orders freezing of any assets of Egypt's former President Hosni Mubarak in Switzerland," February 11, 2011.

Swiss Federal Department of Foreign Affairs, "Swiss delegation of experts in Cairo," May 11, 2011, accessed at http://www.eda.admin.ch/eda/en/home/recent/media/single.html?id=39108

David K. Kirkpatrick, "New Turmoil in Egypt Greets Mixed Verdict for Mubarak," New York Times, June 2, 2012, accessed at http://www.nytimes.com/2012/06/03/world/middleeast/egypt-hosni-mubarak-l...

Swissinfo.ch, "Federal Court rules in favour of Egypt," May 10, 2012, accessed at http://www.swissinfo.ch/eng/politics/foreign_affairs/Federal_Court_rules...