BREAKING NEWS

Swiss reveal funds stashed by Gaddafi, Mubarak, Ben Ali

By REUTERS

MAY 2, 2011 22:06

GENEVA - Switzerland has found 360 million Swiss francs ($415.8 million) of potentially illegal assets linked to Libyan leader Muammar Gaddafi and his circle stashed in the Alpine country, the Swiss foreign ministry said on Monday.

Some 410 million Swiss francs traced to former Egyptian President Hosni Mubarak and 60 million Swiss francs linked to former Tunisian President Zine al-Abidine Ben Ali also were identified, foreign ministry spokesman Lars Knuchel said.

"In the case of Libya, it was 360 million Swiss francs," Knuchel told Reuters. "These amounts are frozen in Switzerland following blocking orders by the Swiss government related to potentially illegal assets in Switzerland."

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