Spain Seizes 28m Euros in Mubarak-Linked Assets
[An Nahar] Spain announced Thursday it had seized 28 million euros ($37 million) in financial products, luxury cars and buildings linked to ousted Egyptian president Hosni Mubarak.
...The former President-for-Life of Egypt, dumped by popular demand in early 2011...
Egypt requested Spain's help under U.N. anti-corruption conventions to find and block assets owned by Mubarak, his family, top aides and their related companies, a national police statement said.
Police blocked 18.4 million euros in financial products held in three Spanish banks; two buildings in Madrid's wealthy Moraleja district worth a combined seven million euros; and seven properties in the holiday resort of Malaga worth more than three million euros.
They also seized seven luxury cars.
"The assets could be the proceeds of crimes such as the embezzlement of public funds, corruption, or the illegal enrichment committed during his mandate," police said.
The Egyptian request targeted some 130 people, they said.
Posted by: Fred 2012-12-14