Egypt seeks millions stolen by last regime

Egypt is seeking the return of hundreds of millions of dollars believed stashed in Western banks by former President Hosni Mubarak and other regime officials. On Tuesday, Egypt sued the British Treasury for more than $127 million believed to have been siphoned out of the country, al-Masry al-Youm reported. Assem al-Gohary, chairman of the Illicit Gains Committee, said "the British government should inform us on its status, irrespective of bank secrecy laws." Separately, a judiciary committee is seeking the return of $429.5 million from Swiss banks that Switzerland has recognized as belonging to Mubarak and 18 members of his entourage. The committee is also awaiting a ruling from a Spanish court on a request for extradition of business tycoon Hussein Salem and his son and daughter. Gohary is briefing the country's economic commission on which countries are cooperating in the return of Egyptian funds believed to have been moved out of the country illegally by Mubarak and others in his government. On the Web site of its embassy in Egypt, the British foreign ministry wrote it was closely cooperating with Egypt for the return of its money, but that Cairo had not provided sufficient evidence for Britain to freeze Mubarak's accounts. The statement claimed that Britain had persuaded European Union countries to freeze funds proven to have been stolen from Egypt. Monday, former Culture Minister Farouk Hosni was charged with corruption because he couldn't explain how he had accumulated $3 million in assets, Bikya Masr reported. Hosni, a painter, was culture minister for more than 20 years. He claimed his wealth came from legal means such as selling his art. In 2009, Hosni was a finalist to head the United Nation's top culture organization, UNESCO.