BREAKING NEWS

Spain seizes assets owned by Egypt's Mubarak

By REUTERS

DECEMBER 13, 2012 15:27

MADRID - Spanish police have found 28 million euros ($36.5 million) in assets owned by ousted Egyptian president Hosni Mubarak and people close to him, including Marbella beach properties and luxury cars, the government said on Thursday.

Egypt had asked Spain to track down assets in the country belonging to the former president and more than 100 people with ties to him, including family members, people who held high-level posts in his government and business leaders.

Spain's interior ministry said it had frozen 18.4 million euros worth of the assets, but did not say whether it would also freeze the remainder.

The properties include two houses in La Moraleja, a wealthy neighborhood of Madrid, seven properties in the Mediterranean beach resort of Marbella, financial products in three banks and also luxury vehicles, the ministry said in a statement.

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