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FINANCIAL NEWS
Egypt’s former regime has USD704m in assets
25 Jul 2012
(MENAFN) Egypt’s Head of the Illicit Gains Authority (IGA), Assem al-Gohary, stated that the former Egyptian regime has more than USD704 million in assets abroad the country, reported Qatar news Agency, citing Al Masry el Youm,
The statement revealed that the judicial committee in charge of retrieving smuggled assets said that an estimated USD413 million in assets were frozen in Switzerland.
Moreover, several former regime figures had transferred USD292 million abroad in additional funds.
It is worth noting that last year’s revolution toppled Egyptian President, Hosni Mubarak, and overthrew his regime.
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