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UK must act on stolen Egyptian assets

Written by Chandu Krishnan on Sunday, 2 September 2012

Reports have emerged alleging that the British Government has failed to freeze the UK-based assets of corrupt members of Egypt’s toppled regime.

Reports have emerged alleging that the British Government has failed to freeze the UK-based assets of corrupt members of Egypt’s toppled regime.

An investigation undertaken by BBC Arabic and The Guardian identified luxury houses and resources-resources-business assets in London which have been retained by members of the Mubarak family and their associates.

It is shocking that despite official sanctions imposed by UK, assets held by corrupt Egyptian politicians have not been frozen.

The UK Government has reportedly stated that the Egyptian authorities must bring criminal cases against the individuals in question before their assets in the UK can be frozen. However, there are other methods that can be used in the absence of criminal proceedings. If the Egyptian authorities can demonstrate to the UK Government that certain assets are, on the balance of probabilities the proceeds of corruption, there is no reason why the UK authorities cannot impose a freeze on those assets as a part of a process of civil recovery of assets.

It is important that the UK authorities are seen to be cooperating with the Egyptian Government, especially as the UK has publically pledged support to the Egyptian people for that country’s democratisation and anti-corruption efforts.

The UK Government needs to act, rather than find excuses for inaction.


Read 9520 times Last modified on Tuesday, 24 November 2015 11:47

Chandu Krishnan

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