Egyptian prosecutor seeks to freeze Mubarak’s assets

Egypt's prosecutor general has requested that both the domestic and foreign assets of Hosni Mubarak and his family be frozen, just ten days after the former President was forced to step down amidst massive protests, according to state TV.

Abdel Magid Mahmud, the nation’s top prosecutor, has asked Egypt’s foreign minister to confer other nations on the subject of the assets that Mubarak is likely to have stashed.

The freeze will apply to Mubarak, his wife, his two sons and two daughters-in-law.

State media has earlier stated that someone claiming to be Mubarak’s legal representative said the ex-president submitted to

Egyptian authorities a declaration of his wealth and that he had no assets in foreign countries.

However, anti-Mubarak activists do not believe him – there are rumors the Mubarak family has billions of dollars in foreign bank accounts (one estimate has it as high as $70-billion).

When Egypt gets back that money, it won't need the foreign aid, and you will be relieved of that burden, said Islam Lutfi, a representative of the Muslim Brotherhood.