Although as reported in this blog the panic to move his and his cronies assets' started a few weeks before the uprising.....read hereFrom the UK Telegraph:
Hosni Mubarak used the 18 days it took for protesters to topple him to shift his vast wealth into untraceable accounts overseas, Western intelligence sources have said.
The former Egyptian president is accused of amassing a fortune of more than £3 billion - although some suggest it could be as much as £40 billion - during his 30 years in power. It is claimed his wealth was tied up in foreign banks, investments, bullion and properties in London, New York, Paris and Beverly Hills.
In the knowledge his downfall was imminent, Mr Mubarak is understood to have attempted to place his assets out of reach of potential investigators.
On Friday night Swiss authorities announced they were freezing any assets Mubarak and his family may hold in the country's banks while pressure was growing for the UK to do the same. Mr Mubarak has strong connections to London and it is thought many millions of pounds are stashed in the UK.
But a senior Western intelligence source claimed that Mubarak had begun moving his fortune in recent weeks.
"We're aware of some urgent conversations within the Mubarak family about how to save these assets," said the source, "And we think their financial advisers have moved some of the money around. If he had real money in Zurich, it may be gone by now."............
A US official told The Sunday Telegraph: "There's no doubt that there will have been some frantic financial activity behind the scenes. They can lose the homes and some of the bank accounts, but they will have wanted to get the gold bars and other investments to safe quarters."
The Mubaraks are understood to have wanted to shift assets to Gulf states where they have considerable investments already – and, crucially, friendly relations. The United Arab Emirates and Saudi Arabia have frequently been mentioned as likely final destinations for Mr Mubarak and possibly his family............
Quite how much Mubarak has stashed away - and where he has hidden that fortune - in the past 30 years is open to speculation. His 69-year-old wife Suzanne Mubarak - known in some circles as the Marie Antoinette of Egypt - is half-Welsh while it is claimed the couple's two sons Gamal and Alaa may even have British passports.
Intelligence sources indicate that the Mubarak fortune may be most easily traced via the business dealings of Gamal Mubarak, 47.
He once lived in a six-storey house in Belgravia in central London and worked in banking before setting up an investment and consulting firm in London. He resigned as a director of the company 10 years ago.
The president made his two sons the "go to" men for any companies that sought to do business in Egypt...........It said it was routine for businesses to be required to hand a cut – between 20 to 50 per cent - to Gamal or Alaa simply to set up shop. Favoured entrepreneurs who worked with the brothers were given virtual monopolies in return.....read on
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