Spain seizes jailed Mubarak’s assets

International appeal by Egypt also reveals Swiss bank accounts in former dictator's name

Ousted Egyptian president Hosni Mubarak sits inside a cage in a courtroom during his verdict hearing in Cairo on June 2, 2012.
Ousted Egyptian president Hosni Mubarak sits inside a cage in a courtroom during his verdict hearing in Cairo on June 2, 2012.STR / AFP

Some 28 million euros in assets belonging to ousted Egyptian president Hosni Mubarak and his associates have been discovered in Spain, the government announced on Thursday.

The police made the discovery after the Egyptian government had asked Spanish authorities to conduct a search for accounts and properties belonging to the ailing former president -- who is serving a life sentence -- and about 100 people close to him, including members of his family.

In a statement, the Interior Ministry said it was freezing some 18.4 million euros in assets but did not say what the government would do with the rest.

Among Mubarak's possessions in Spain are luxurious beachfront properties in Marbella and two homes in Madrid's exclusive La Moraleja neighborhood.

"The assets could come from crimes such as embezzlement or corruption," the Interior Ministry said.

Other assets confiscated include bank accounts and other financial instruments, as well as a fleet of luxury vehicles.

Egypt has asked several nations to conduct searches for Mubarak's properties and wealth, including Switzerland, which has also frozen some of the former leader's accounts.

Mubarak, who ruled Egypt for three decades, was sentenced to life imprisonment for his role in killing protestors during the 2011 popular uprising against his regime. He is currently being held in a military hospital because of his health problems.

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