Hosni Mubarak Used Last 18 Days in Power to Secure His Fortune (That's why he held on)

[tekisui]

Source: The Telegraph

The former Egyptian president is accused of amassing a fortune of more than £3 billion - although some suggest it could be as much as £40 billion - during his 30 years in power. It is claimed his wealth was tied up in foreign banks, investments, bullion and properties in London, New York, Paris and Beverly Hills.

In the knowledge his downfall was imminent, Mr Mubarak is understood to have attempted to place his assets out of reach of potential investigators.

On Friday night Swiss authorities announced they were freezing any assets Mubarak and his family may hold in the country's banks while pressure was growing for the UK to do the same. Mr Mubarak has strong connections to London and it is thought many millions of pounds are stashed in the UK.

But a senior Western intelligence source claimed that Mubarak had begun moving his fortune in recent weeks.

"We're aware of some urgent conversations within the Mubarak family about how to save these assets," said the source, "And we think their financial advisers have moved some of the money around. If he had real money in Zurich, it may be gone by now."

more: http://www.telegraph.co.uk/news/worldnews/africaandindianocean/egypt/8320912/Egypt-Hosni-Mubarak-used-last-18-days-in-power-to-secure-his-fortune.html

[calimary]

1. Knew it!

Not a bit surprised. Sheesh - my husband and I were talking about this just the other day and we suspected he knew his goose was cooked and it was just a matter of trying to protect his assets at this point.

[Junkdrawer]

2. Told ya so....

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x395444

[BOG PERSON]

3. i figured mubarak was dragging his heels

in order to give his clique time to destroy evidence of their crimes

[Catherina]

7. That too. With intl complicity. n/t

[MadHound]

4. D'uh!

He knew he was a dead dictator walking when the army publicly refused to fire on the crowds early on.

[JoePhilly]

10. Really ... +1

[tahrir]

5. exactly, and that explains the welcomed transition to military rule and his speech thur

as discussed here...
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x402888

[robinlynne]

6. Damn, my 78 year old Mom with dementia actually said that!

[Raine]

8. ALWAYS follow the money, it's the reason for everything when it comes to these types. nt.

[Uncle Joe]

9. Kicked and recommended.

Thanks for the thread, tekisui.

[customerserviceguy]

11. Proof that this really did take him by surprise

Most dictators have a 48 hour plan, but only if they think there's a chance in hell that they'd have to use it.

[Swede]

12. I'd rather this then a bloodbath.

You have to let these guys get away with the loot,so the next tyrant will do it to. Sad,but true.

[applegrove]

13. He probably moved it to Saudi Arabia or Dubai.

[L. Coyote]

14. This discussion is ongoing in LBNews

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4731145