LONDON, (Reuters) – A British government minister said yesterday there should be an international approach to dealing with the overseas assets of deposed Egyptian president Hosni Mubarak and his family.
A spokesman for Britain’s Serious Fraud Office (SFO) said the financial crime agency was looking for assets in Britain linked to Mubarak in case there was any request to seize them.
So far only Switzerland has announced a freeze on assets that might belong to Mubarak, who stood down on Friday after 30 years in power.
British business minister Vince Cable said countries need to work together on Mubarak’s assets, reported to be worth many millions of dollars and held secretly around the world.
Asked if Britain would follow Switzerland’s lead, Cable told BBC television: “I was not aware that he had enormous assets here, but there clearly needs to be a concerted international action on this.
“There is no point one government acting in isolation, but certainly we need to look at it.It depends also whether his funds are illegally or improperly obtained,” Cable added.
Britain has to await a request from Egypt, or from the European Union or the United Nations, before freezing any of Mubarak’s assets, the SFO spokesman said.
“We are identifying where such assets might be in the event that we are asked to take action,” he said.
Foreign Office minister Alistair Burt said Britain had not yet been asked to move against Mubarak’s assets. “There are things that can be done, but so far there has not been a request,” he told BBC radio.
