‘The UK has failed to freeze millions in assets belonging to key figures in the regime of former Egyptian leader Hosni Mubarak. Investigative journalist Tony Gosling says the growing scandal shows the true face of British foreign policy.
From £10 million luxury homes in posh London neighborhoods to businesses registered to members of Mubarak’s inner circle despite their inclusion in a British Treasury sanctions list, the six-month investigation, led by the BBC, has shown systemic failures by the UK government to seize stolen fortunes stashed in the UK.
While some $135 million worth of assets belonging to Mubarak, his immediate family, and over a dozen other Egyptians have now been frozen in the UK, publicly-accessible records from the Companies House and Land Registry show that regime figures who embezzled billions from Egypt before Mubarak’s ouster 18 months ago have parked unspecified fortunes in Britain without intervention by the country’s authorities.
“The UK is one of the worst countries when it comes to tracing and freezing Egyptian assets,” Egypt’s new Legal Affairs Minister Mohamed Mahsoub said.’