British authorities have permitted leading figures in Hosni Mubarak's deposed regime to retain millions of dollars worth of suspected assets in the UK, potentially in contravention of international sanctions, Britain's The Guardian reported Monday.

A six-month investigation, conducted by BBC Arabic and released in conjunction with the Guardian and pan-Arab newspaper al-Hayat, identified many valuable assets, including properties and business interests, linked to Mubarak's family and associates that allegedly were not frozen by the UK.

In response to the report, Britain's Foreign Office said it was working with Egyptian officials to identify Mubarak regime assets. The Treasury denied any wrongdoing.

According to the Guardian, Egypt's new Islamist government is presently pursuing a lawsuit against the UK Treasury for neglecting to adequately investigate the matter.

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