In a video statement released online, Gamal Mubarak, the son of former Egyptian President Hosni Mubarak, said recent court rulings in the European Union and elsewhere showed their innocence, but did not explain how the family amassed significant wealth.
In February, a huge leak of information from Credit Suisse clients showed that Gamal Mubarak and his brother, Ala, had at least $ 197.5 million in the bank at one time.
“The information has now been established, and the false allegations have been unequivocally refuted. In this way, the historical record has been independently and judicially corrected, “he said in a video statement posted on YouTube. He blamed the Egyptian judicial authorities for taking the matter to the International Court of Justice.
The 2011 protests were based on calls for deep-rooted embezzlement and an end to government corruption in Egypt, and growing concerns about the succession of Gamal Mubarak, who has been in power for nearly 30 years, to his father. The international anti-corruption group Transparency International estimates that Mubarak, as president, stole about বিল 60 billion from public funds. The former president died in 2020 at the age of 91.
In April, Swiss prosecutors decided not to file charges after a decade-long investigation into alleged money laundering and organized crime in Egypt linked to Mubarak’s circles. They also said they would freeze about 400 million Swiss francs – $ 430 million – in Swiss banks.
The same month, the European Union’s General Court ruled that the rights of Mubarak’s wife, two sons and their wives were not respected during a local Egyptian investigation into his assets, on which the prosecution relied. The ruling means that EU sanctions on Mubarak’s account have been declared illegal and lifted. Gamal Mubarak said his family was being paid for the legal costs of the case.
Transparency International has condemned the move, saying it would show corrupt leaders around the world that they can work with impunity.
The EU and Swiss investigations were part of a series of court hearings against Mubarak in the wake of the protests. The father and two sons were first detained in April 2011, two months after the uprising forced Mubarak to resign as part of a protest movement in the Arab Spring. In its place, a leading military council was formed, which gave way to the divided Islamist President Mohamed Morsi after the 2012 elections. Morsi was later ousted by the military in more popular protests.
After a lengthy trial, Hosni Mubarak was acquitted of killing protesters during an 18-day uprising against his dictatorial regime.
The two sons and their father were sentenced to three years in prison after being found guilty of embezzling funds allocated for the restoration and maintenance of presidential palaces, using the money to upgrade their private residences. The boys were released in 2015 for the time being, when Mubarak was released in 2017. The three returned the money they had embezzled to the state.
The boys were briefly detained in September 2018 while their trial was pending on charges of stock market manipulation. But they were each released on ,000 100,000 ($ 5,600) bail after an appeals court accepted a motion driven by their defense attorneys to remove the judge who ordered their detention, and they were released in 2020.