MUBARAK - ONE OF AMERICAN'S PAID MUSLIMS DICTATORS & HIS $70 BILLION OF LOOT

MEXICANOCCUPATION.blogspot.com


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WHEREVER ON THE GLOBE THERE’S A DICTATORSHIP, THERE SITS A DICTATOR WITH HIS POCKETS FULL OF MONEY LOOTED FROM AMERICANS AS HIS PEOPLE GO WITH OUT FOOD!

IF THE AMERICAN PEOPLE ONLY KNEW HOW MUCH THE SAUDIS, - THE 9-11 INVADERS BUY OUR LEADERSHIP!





Mubarak family fortune could reach $70bn, say experts

Egyptian president has cash in British and Swiss banks plus UK and US property





Gamal and Hosni Mubarak are reported to have built up huge fortunes, including properties in London. Photograph: Cris Bouroncle/AFP/Getty Images

President Hosni Mubarak's family fortune could be as much as $70bn (£43.5bn) according to analysis by Middle East experts, with much of his wealth in British and Swiss banks or tied up in real estate in London, New York, Los Angeles and along expensive tracts of the Red Sea coast.

After 30 years as president and many more as a senior military official, Mubarak has had access to investment deals that have generated hundreds of millions of pounds in profits. Most of those gains have been taken offshore and deposited in secret bank accounts or invested in upmarket homes and hotels.

According to a report last year in the Arabic newspaper Al Khabar, Mubarak has properties in Manhattan and exclusive Beverly Hills addresses on Rodeo Drive.

His sons, Gamal and Alaa, are also billionaires. A protest outside Gamal's ostentatious home at 28 Wilton Place in Belgravia, central London, highlighted the family's appetite for western trophy assets.

Amaney Jamal, a political science professor at Princeton University, said the estimate of $40bn-70bn was comparable with the vast wealth of leaders in other Gulf countries.

"The business ventures from his military and government service accumulated to his personal wealth," she told ABC news. "There was a lot of corruption in this regime and stifling of public resources for personal gain.

"This is the pattern of other Middle Eastern dictators so their wealth will not be taken during a transition. These leaders plan on this."

Al Khabar said it understood the Mubaraks kept much of their wealth offshore in the Swiss bank UBS and the Bank of Scotland, part of Lloyds Banking Group, although this information could be at least 10 years old.

There are only sketchy details of exactly where the Mubaraks have generated their wealth and its final destination.

Christopher Davidson, professor of Middle East politics at Durham University, said Mubarak, his wife, Suzanne, and two sons were able to accumulate wealth through a number of business partnerships with foreign investors and companies, dating back to when he was in the military and in a position to benefit from corporate corruption.

He said most Gulf states required foreigners give a local business partner a 51% stake in start-up ventures. In Egypt, the figure is commonly nearer 20%, but still gives politicians and close allies in the military a source of huge profits with no initial outlay and little risk.

"Almost every project needs a sponsor and Mubarak was well-placed to take advantage of any deals on offer," he said.

"Much of his money is in Swiss bank accounts and London property. These are the favourites of Middle Eastern leaders and there is no reason to think Mubarak is any different. Gamal's Wilton Place home is likely to be the tip of the iceberg."

Al Khabar named a series of major western companies that, partnered with the Mubarak family, generated an estimated $15m a year in profits.

Aladdin Elaasar, author of The Last Pharaoh: Mubarak and the Uncertain Future of Egypt in the Obama Age, said the Mubaraks own several residences in Egypt, some inherited from previous presidents and the monarchy, and others the president has commissioned.

Hotels and land around the Sharm el-Sheikh tourist resort are also a source of Mubarak family wealth.

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THE MUBARAK MONSTER WAS ABETTED BY OUR OWN GOVERNMENT BEING IN BED WITH THIS MONSTER FOR 30 YEARS!



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Sitting on His Assets



How Switzerland was able to freeze Mubarak's Swiss bank accounts.

By Annie LowreyPosted Friday, Feb. 11, 2011, at 6:05 PM ET

Hosni Mubarak In the protests that led to Egyptian President Hosni Mubarak's ouster, his money was a point of contention for Egyptians. The country's youth suffers from crippling unemployment, with tens of thousands of college graduates unable to find good jobs. Its recent economic gains have failed to produce higher incomes for most Egyptians, with inequality growing worse over the past five years. About 40 percent of the population lives on less than $2 a day.



But the Mubarak family itself has reportedly made out handsomely. Estimates of its total wealth reach $80 billion. (All these numbers, of course, should be taken with a grain of salt.) Newspapers in Cairo focused on Mubarak's money during the days of protests, and protesters noticed. One chant, reportedly, went: "O Mubarak, tell us where you get $70 billion!"

Due to a recent change in Swiss law, however, if Mubarak has secreted illicit money away in a Swiss bank account, Egyptians just might get some of it back. "I can confirm that Switzerland has frozen possible assets of the former Egyptian president with immediate effect," a foreign ministry spokesperson told Reuters on Friday. The ministry did not say how much money Switzerland froze or give any other details. The change to Swiss law makes it easier for the country to freeze dictators' assets even if their countries are in disarray.

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Switzerland has had a long reputation for upholding strict privacy-in-banking laws. As a consequence, its banks have gained a reputation as a good place for dictators to deposit stolen funds. Now, some legal scholars are saying the country is "poised to become an example of one of the most forward-leaning countries in the quest to return stolen assets to developing countries."

In October, the Swiss Parliament passed the Restitution of Illicit Assets Act, which took effect on Feb. 1. Among other things, it allows the Swiss Cabinet to freeze contentious assets even if a country has not formally asked Switzerland to do so. The Swiss Department of Foreign Affairs explains that it found "the inability of the requesting state to provide Switzerland with elements of proof or the necessary judgments" to be a "main problem." The new law, it says, "can henceforth provide a solution."

The foreign ministry devised the law in part because of its experience with "Baby Doc" Duvalier, the Haitian strongman deposed in 1986. Duvalier—who stole millions from Haitians and spent it on lavish parties, foreign homes, and shopping trips—kept some funds in Swiss banks. Now, thanks to the new law, Switzerland intends to repatriate some of Duvalier's stolen money as soon as possible. Switzerland has frozen and hopes to send back about $5.8 million, for use in "programs of public interest aimed at improving the living conditions of the (Haitian) population."

Other dictators have lately found themselves frozen out by the Swiss as well. For instance, the government has frozen the assets of Laurent Gbagbo, the president of Cote d'Ivoire, who lost a November presidential election but has refused to step down. This month, using the new law, Switzerland it also froze the assets of Zine el-Abidine Ben Ali, the disgraced former president of Tunisia, who was deposed last month and has fled to Saudi Arabia.

The country has not said whether Egypt asked Switzerland to freeze Mubarak's money or whether the Swiss did so on their own. Either way, it does not seem likely Mubarak will get the cash back any time soon.