Egypt freezes assets of ex-candidate, ex-PM Shafiq

AP News
Posted: Oct 21, 2012 4:52 PM
Egypt freezes assets of ex-candidate, ex-PM Shafiq

CAIRO (AP) — Egyptian authorities on Sunday said they are freezing the assets of presidential candidate and former prime minister Ahmed Shafiq and his daughters as part of the investigation into his wealth.

The decision by the Illicit Gains Authority is the latest legal move against Shafiq, who held senior posts under deposed president Hosni Mubarak. He faces trial on corruption charges.

Shafiq ran in Egypt's first presidential elections after Mubarak's ouster, narrowly losing to Muslim Brotherhood candidate Mohammed Morsi.

Soon afterward he left the country with his family.

Leaving the Left
John Stossel

The authority said in a statement that investigations show Shafiq has real estate and financial assets including 12 villas, four chalets and two apartments.

Shafiq has repeatedly denied allegations and said the case against him is politically motivated.