Gadhafi, Mubarak Ben Ali Stashed Up to $1 Billion in Swiss Banks

Tuesday, 03 May 2011 12:51 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Libyan dictator Moammar Gadhafi and the deposed presidents of Egypt and Tunisia managed to stash about $1 billion in Swiss banks. Swiss Financial regulators have identified over $400 million that may belong to Gadhafi or his government, The Washington Post reported.

Gadhafi, Swiss banks, billion,
            Mubarak, Ben Ali
Moammar Gadhafi (AP photo)
The Swiss also linked $474 million to former Egyptian President Hosni Mubarak and $69 million to Tunisia’s deposed leader Zine el-Abidine Ben Ali. Switzerland has in recent years worked to shed its reputation as a haven for stolen assets of dictators and passed laws designed to seize and return such funds, the Post reported.

Foreign Minister Micheline Calmy-Rey wrote in an Op-Ed piece published in European newspapers that five days after the revolt in Tunisia toppled Ben Ali, officials ordered banks to freeze assets and took a similar action within 30 minutes of Mubarak resigning. Gadhafi’s assets were frozen after he began bombing his own people, the Post reported.

“The idea of Switzerland as a safe haven for stolen funds belongs to the past, and, if at all, is best left to crime thrillers. No other country has even come close to restituting as much money derived from illegal activities to the countries of origin as Switzerland,” Calmy-Rey said according to the Post.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Dershowitz Challenges UK's Miliband: Would You Protect Great Britain Against Terrorism?

Thursday, 30 Oct 2014 20:34 PM

Ed Miliband, who is the leader of Great Britain's Labour Party, wants to become Prime Minister following the next genera . . .

Michelle Obama to Heckler: 'We Love You'

Thursday, 30 Oct 2014 22:23 PM

A heckler interrupted Michelle Obama several times during a speech Thursday, to which the first lady replied, "We love y . . .

McCain: Released Gitmo Detainees in Terror Leadership Roles

Thursday, 30 Oct 2014 22:04 PM

Sen. John McCain says reports of 20-30 former Guantanamo detainees joining the Islamic State (ISIS) and other terrorist  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved