Following a request made by the Egyptian Foreign Ministry to the European Union to freeze the assets of several former Egyptian officials, discussions commenced on how to ensure these assets are returned to Egypt. Preliminary investigations revealed that the assets are thought to exceed a hundred billion US dollars.
According to Ahmed Abo al-Wafa, an International Law Professor at Cairo University, Egypt’s Attorney General Abdel Magid Mahmoud is already in the process of returning the assets.
Abo al-Wafa went on to explain that the investigating authority demands that these assets are frozen until investigations are completed and a report is submitted to the court.
Abo al-Wafa said that according to the law, the Foreign Ministry is the only body authorized to discuss the matter of freezing assets with the countries in question through official memorandums supported by a request from the attorney general or an investigating body.
He added that if the prosecution obtains proof well beyond a reasonable doubt that the defendant acquired the assets through illegal means, a report is sent to attorney generals in the relevant countries to begin the process of returning Egyptian assets.
The Egyptian government plans to send representatives to these countries to receive the assets and restore them to Egypt.
Translated from the Arabic Edition.
