The Attorney General of Switzerland announced today (Wednesday) the closure of the investigation file on suspicion of money laundering in Egypt.
The investigation was opened 11 years ago and linked to associates of former Egyptian President Hosni Mubarak, who died in February 2020.
The Swiss prosecutor's office said that "despite the numerous investigations - it must be accepted that the investigation failed to substantiate the suspicions that would justify the filing of an indictment against any person in Switzerland or the confiscation of his assets."
The prosecution also confirmed that a sum of 400 million Swiss francs ($ 429 million) would be released.
"Congratulations on the decision": Gamal and Alaa Mubarak, Photo: AFP
The investigation in Switzerland began in 2011 after the events of the "Arab Spring," which led to the ouster of President Hosni Mubarak, who ruled the country for 30 years.
The case under investigation initially included 14 suspects including the sons of Mubarak Gamal and Alaa.
Also during the investigation the assets of 28 people and 45 legal entities were confiscated.
The prosecutor's office said five of the suspects are still under investigation.
According to the suspect, the suspects, most of whom held official positions in Egyptian government, used Switzerland to launder revenues that came through corruption.
The announcement comes after the EU tribunal ruled on April 6 to lift sanctions against Mubarak's family members and freeze their assets.
The Arab Spring in Egypt, archive, photo: AFP
Gamal Mubarak issued a statement welcoming the decision in Switzerland: "The decision confirms the position we have held for more than a decade of intrusive investigations, sanctions and legal proceedings. The decision marks an important step in our efforts to stand up for our rights and prove our innocence." The latter. "
It should be noted that 210 million Swiss francs had already been released from freezing at an earlier stage of the case, in which the prosecution also failed to substantiate the suspicions of an indictment.
The current decision will release an additional 400 francs that have been frozen at the Swiss bank and will be transferred to their owners.
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