GCIS INTELLIGENCE BRIEFING: Mubarak delayed exit in order to move secret funds, say intel sources

ISSUED BY: GCIS Communications Command Center

SOURCE: Intel News

14February2011 12:59pmEST

GCIS INTELLIGENCE UPDATE: One of the reasons why Egypt’s disgraced ex-president kept prolonging his rule amidst ferocious anti-government protests this month, was to transfer billions of dollars-worth of personal assets into bank accounts around the world.

British newspaper The Sunday Telegraph quotes a “senior Western intelligence official” who claims that Hosni Mubarak’s fund managers began transferring his extensive fortune to numbered bank accounts during the first days of the popular revolution in Egypt.

The intelligence official told The Telegraph that Western intelligence services were “aware of some urgent conversations” within the Mubarak family about how to best protect their fortune from Egyptian and international financial investigators.

The Mubaraks may have thus pre-empted the freezing of their accounts in Zurich, which was announced by the Swiss government on Friday. (read full report)

 

 

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