Egyptians Can Claim Mubarak’s Stolen Billions

[kpete]

Source: IPS

Published on Sunday, February 13, 2011 by Inter Press Service
Egyptians Can Claim Mubarak’s Stolen Billions
by Julio Godoy

GENEVA - For decades, European bank accounts and trusts and the real estate market were havens for dictators seeking safe places to deposit billions of dollars they were stealing from their countries of origin.

The new Swiss law, which came into effect on Feb 1, and dubbed "lex Duvalier", in reference to the infamous former Haitian dictator Jean Claude Duvalier, is being used to revise the bank accounts and trusts maintained in Switzerland by Arab dictators such as Tunisian Zine el Abidine Ben Ali and Egyptian Hosni Mubarak. The pressure exerted upon European private banks and justice departments by anti-corruption watchdog groups and associations of lawyers has at last made changes to one of these notorious havens for embezzled fortunes.

In Switzerland, the government just approved a law that eases the historical secrecy of Swiss private banks. The law allows for money deposited here by Third World dictators to be reimbursed to the legitimate governments of the dictators’ countries of origin.

The law, which came into effect on Feb 1, and dubbed "lex Duvalier", in reference to the infamous former Haitian dictator Jean Claude Duvalier, is being used to revise the bank accounts and trusts maintained in Switzerland by Arab dictators such as Tunisian Zine el Abidine Ben Ali and Egyptian Hosni Mubarak.

Read more: http://ipsnews.net/news.asp?idnews=54459

[lunatica]

1. The article also mentions Germany and France sending weapons to Mubarak

And groups within both countries fighting legally to stop it.

[avaistheone1]

2. This money needs to go back to the Egyptian people.

k&r

[CLANG]

3. It's probably a few thousand dollars per household he stole

from people living on $2 a day. Mubarak was a ruthless bastard.

[avaistheone1]

4. Indeed he is!

There need to be tremendous pressure from the international community that the money goes back to the Egyptian people.

:kick: