Swiss freeze $1 billion worth of dictators' assets - Macleans.ca
 

Swiss freeze $1 billion worth of dictators’ assets

Mubarak, Gaddafi and Ben Ali among targets of sweep


 

Switzerland has frozen more than $1 billion in assets linked to current and former North African dictators. More than $450-million of the assets are believed to have been illegally obtained by former Egyptian president Hosni Mubarak and his acolytes. Another $398 million was linked to Libya’s Muammar Gaddafi. Some $66 million was controlled by Tunisia’s former dictator, Zine al-Abidine Ben Ali. Switzerland agreed to freeze suspect funds in February, but only announced the figure today. A government official told the BBC that no alternate regime has provided enough evidence for the money to be returned.

BBC News


 
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Swiss freeze $1 billion worth of dictators’ assets

  1. Comments aren't showing on some other stories.

    Something I said? Must be doing something right.

  2. I'm surprised that the Swiss are freezing assets since many of these places are still in turmoil with outcomes that are unclear. But then again what's 1 billion or a few 100 million frozen when you have 10's of billions at your disposal? I'm also guessing the Swiss banks will still be able to leverage those assets in some way.

    • An extra mere 1 billion bucks doesn't make a difference to Switzerland at all. Also, it's precisely because "places are still in turmoil with outcomes that are unclear" that assets are frozen. These kleptocracies now have to be kept from spending on weapons and patronage to stay in power, so keeping their money locked down is a practical way to speed Gaddaffi's departure.