Egyptian authorities confiscate $2bn from Mubarak allies

PanARMENIAN.Net - Egyptian authorities have confiscated more than $2 billion from former state officials close to deposed president Hosni Mubarak, RIA Novosti reported citing the Al-Ahram newspaper.

According to a report by an Egyptian supervisory authority, the money was confiscated as “illegally obtained” in unlawful deals between prominent politicians and businessmen.

Among those who had to return money and other property to the state were leading members of Mubarak’s National Democratic Party, former cabinet members and businessmen.

“Efforts are underway to restore another 50 billion [Egyptian] pounds [over $8 billion] after conviction rulings have been issued in some complaints against ex-regime members,” the Egypt State Information Service quoted Assistant Prosecutor General Adel el-Saeed as saying.

Mubarak, 84, was ousted in a two-week popular uprising in February 2011, which left more than 360 people dead and about 5,500 injured. He was sentenced in June to life imprisonment by an Egyptian court “for failure to stop the killing of protesters by the Egyptian security forces during the revolt.”

Many other former state officials have either been convicted for corruption or taken into custody pending a court verdict, including Mubarak’s sons, former parliament speaker and ex-ministers.