Switzerland freezes Mubarak assets

Zurich, Feb 12: There is no sight of respite for Hosni Mubarak's troubles as there are reports of Switzerland his freezing assets. Earlier, Mubarak had on Feb 11, stepped down as the President of Egypt after 30 years of rule.

Without specifying the amount of money involved, foreign ministry spokesman Lars Knuchel said, "I can confirm that Switzerland has frozen possible assets of the former Egyptian president with immediate effect."

Switzerland has also frozen assets of Tunisia's former President Zine al-Abidine Ben Ali, who quit after a revolt by the people of the country.

The moves are seen as an attempt by the European country to ameliorate its image as a safe haven for misbegotten wealth.

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