Asset Recovery Watch

ARW-78
Hosni Mubarak (European Union)
Egypt
President (1981-2011)
European Union
Location of Recovery Effort
2011
Ongoing
Art.17
No
Case in Investigatory/Asset Restraint Stage
Unknown
Unspecified
Ongoing Case
Ongoing
Investigation/Asset Tracing/Asset Restraint
Unknown amount
Ongoing
NA
On November 26, 2012, the Council of the European Union announced that it had taken steps to facilitate the return of misappropriated funds to the Egyptian authorities:  "The new legislative framework authorises EU member states to release frozen assets on the basis of judicial decisions recognized in EU member states. Once the necessary judicial steps have been taken, this should enable the release and return to the Egyptian and Tunisian authorities of funds frozen under EU sanctions against the former Mubarak and Ben Ali regimes. In addition, the amended legislation will facilitate the exchange of information between EU member states and the relevant authorities in Tunisia and Egypt so as to assist in the recovery of misappropriated funds. [  ]  Since January 2011, [  ]  9 persons responsible for the misappropriation of Egyptian state funds, including former President Hosni Mubarak, have had their assets in the EU frozen since March 2011."  (Source: Council of the European Union, Press Statement, 16078/12, November 26, 2012.)    The European Union had originally issued Council Regulation - (EU) No 270/2011 of 21 March 2011 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Egypt, including freeze on assets belonging to Mr. Mubarak and others - in March 2011. (Source: Council Regulation (EU) No 270/2011 of 21 March 2011 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Egypt.)   The Council Decision has been renewed on several occasions, including most recently with the Council Decision 2016/411 of March 18, 2016, extending the period of restrictive measures until March 22, 2017. (Source: Official Journal of the European Union, at http://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32016D0411...)

According to the New York Times and other sources, in May 2014, Mr. Mubarak was convicted on charge of embezzlement and sentenced to three years' imprisonment. (Source:  David Kirkpatrick, "Mubarak Gets 3 Years for Embezzlement, and His Sons Get 4," New York Times, May 21, 2014.)

Prosecutor-General's Office
Prosecutor-General's Office
Cairo Appeals Court
Unspecified
NA
NA