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Swiss to unfreeze $430M as Egypt money laundering probe ends

FILE - Gamal Mubarak, center, son of Egyptian President Hosni Mubarak, talks to guests prior to the speech of U.S. President Barack Obama at Cairo University in Cairo, Egypt, Thursday, June 4, 2009. Swiss prosecutors are concluding without any charges a decade-long investigation into alleged money laundering and organized crime linked to late former President Hosni Mubarak’s circles in Egypt, and will release some 400 million Swiss francs ($430 million) frozen in Swiss banks. The office of the Swiss attorney general said Wednesday, April 13, 2022, that information received as part of cooperation with Egyptian authorities wasn’t sufficient to back up the claims that emerged in the wake of Arab Spring uprisings in 2011 that felled Mubarak’s three-decade rule. Mubarak's sons, Alaa and Gamal, hailed the decision as a full exoneration. (AP Photo/Ben Curtis, File) FILE - Alaa Mubarak, son of Egyptian President Hosni Mubarak, attends the Christmas Eve Mass at the Coptic cathedral in Cairo, Egypt, Thursday, Jan. 6, 2011. Swiss prosecutors are concluding without any charges a decade-long investigation into alleged money laundering and organized crime linked to late former President Hosni Mubarak’s circles in Egypt, and will release some 400 million Swiss francs ($430 million) frozen in Swiss banks. The office of the Swiss attorney general said Wednesday, April 13, 2022, that information received as part of cooperation with Egyptian authorities wasn’t sufficient to back up the claims that emerged in the wake of Arab Spring uprisings in 2011 that felled Mubarak’s three-decade rule. Mubarak's sons, Alaa and Gamal, hailed the decision as a full exoneration. (AP Photo/Ben Curtis, File) FILE - Egyptian President Hosni Mubarak attends a meeting with Emirates foreign minister at the Presidential palace in Cairo, Egypt, Tuesday, Feb. 8, 2011. Swiss prosecutors are concluding without any charges a decade-long investigation into alleged money laundering and organized crime linked to late former President Hosni Mubarak’s circles in Egypt, and will release some 400 million Swiss francs ($430 million) frozen in Swiss banks. The office of the Swiss attorney general said Wednesday, April 13, 2022, that information received as part of cooperation with Egyptian authorities wasn’t sufficient to back up the claims that emerged in the wake of Arab Spring uprisings in 2011 that felled Mubarak’s three-decade rule. (AP Photo/Amr Nabil, File)
Swiss to unfreeze $430M as Egypt money laundering probe ends