Egypt: Mubaraks had wealth beyond their means

AP News
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Posted: Apr 18, 2011 12:13 PM
Egypt: Mubaraks had wealth beyond their means

Egypt's financial oversight body says the former president of Egypt and his family have amassed wealth beyond their means in the form of properties and bank accounts.

The state news agency said Monday the agency found that the 82-year old former president and his two sons and wife own several properties around Egypt, including luxury apartments, and palaces, as well as empty land plots and valuable farm land.

The report said the family also has numerous bank accounts in foreign and local currencies. The elder son, Alaa, is apparently the richest, followed by Gamal, who was groomed by his father to be president.

Mubarak, the father, has the least wealth, according to the office.

Mubarak's sons are in detention pending investigation, while the elder Mubarak has been hospitalized.