Egypt: $1.8 billion recovered from Mubarak-era figures
Egypt has recovered around $1.8 billion in funds and lands corruptly appropriated by Mubarak-era figures, the state-run daily newspaper Al-Ahram reports on Sunday.
Investigations starting a month after Egypt's January 25 Revolution began in 2011 were fruitful and made it possible for Egypt to retrieve these funds last month, said Deputy General Attorney Adel El-Said on Saturday.
The governmental authorities are working now on banking up around $9 billion from specific persons working under the ousted president Mubarak’s umbrella who have been found guilty of corruption.
According to Egypt's newly-elected president, Mohamed Morsi, the recuperated funds will be deposited in a new account at the Central Bank no. 333/333.
Morsi encourages citizens and Egypt-based expatriates to support the Egyptian economy with financial donations through the same account.
In August, Egypt’s Ministry of Justice considered forming a committee to trace and recover Egyptian assets moved overseas by members of the old regime.
- Oman’s Duqm tourist complex moves forward with government approval
- Kuwait fights budget deficit: Reexamining government salaries, expatriate labor
- Tunisian Confederation of Industry, Trade, and Handicrafts fights nationwide unemployment levels
- Construction costs fall in Dubai
- Western tourists flock to Iran, could generate $30B in new revenue