Mrs Mubarak to give up assets

2011-05-17 09:44
Sharm El-Sheikh - The wife of deposed Egyptian president Hosni Mubarak has turned over her property and funds to the state, a move designed to settle the corruption allegations against her, officials and lawyers said on Monday.

Mubarak and his wife, Suzanne, have been questioned about their financial dealings. Some estimates put Mubarak's holdings in the tens of billions of dollars.

The prosecution of former regime officials, including the Mubaraks, has been one of the main demands by the activists who led the uprising that forced Mubarak to step down on February 11.

By relinquishing her claims, Mrs Mubarak is benefiting from articles in the law which allow those accused of making illegal gains of giving them up in exchange for dropping the investigation, said lawyer Nasser Amin.

The move could open the way for others who are in detention on accusations of abusing their powers to settle with the state by returning their money.

Suzanne Mubarak, 70, has been hospitalised following an order to detain her over allegations she took advantage of her husband's position to enrich herself.

Mubarak, 83, is also in the hospital under detention for investigation into his financial dealings. He is also facing allegations that he ordered a violent crackdown against protesters.

Demands of the revolutionaries

A prosecution official said the investigation by anti-corruption prosecutors disclosed that Suzanne Mubarak had about $3m in bank accounts in Egypt and owned a villa in the suburb where she and her husband lived. It was not yet clear how much money the Mubaraks had abroad.

The official, speaking on condition of anonymity because he was not authorised to disclose details, said the case against her has not yet been closed, but the settlement strips the case of its importance, and her detention order may be reconsidered.

Amin said the settlement clearly a "compromise" to let the former first lady go free, while her children and husband remain under detention, and to meet one of the demands of the revolutionaries, which is to retrieve wasted money.

He said not everyone will be pleased.

"The decision may not be accepted by society, who after a revolution, side with the idea of revenge. But from the legal point of view, this is in line."

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