Estimates Of Hosni Mubarak's Extreme Wealth Released
Apr 20, 2011 17:35
Details about how much the Mubarak family has amassed during his 30 year rule as President are slowly starting to emerge. Anti-corruption campaigners had pressed Egypt's chief prosecutor to conduct an investigation into the assets of Mubarak and his family,
handing over documents that they say spotlight the kind of potentially
improper financial dealings that may have allowed the former ruler and
his relatives to amass a large fortune.
The former president of Egypt and his family is reported to have amassed wealth beyond their means in the form of properties and bank accounts, which is speculated to amount somewhere between $1 billion to $70 billion!
According to the state news agency, Egypt's financial oversight body found that the 82-year old former president, his wife and two sons own several properties around Egypt, including luxury apartments, and palaces, as well as empty land plots and valuable farm land. The report said the family also has numerous bank accounts in foreign and local currencies.
In terms of wealth, elder son Alaa is reportedly the richest, followed by Gamal who was being groomed by his father to take over as president. Meanwhile, Mubarak was reported to have had the least wealth.