Egypt intensifies talks over repatriating illicit funds in UK banks

A Public Funds Prosecution delegation is in the midst of intense negotiations with British authorities in London over the repatriation of funds transferred to the United Kingdom by former officials under Hosni Mubarak.

In a statement Tuesday, the Public Funds Prosecution said the delegation, headed by Judge Emad Abdallah, has been in talks for the last three days.

The cases involve cash transferred out of the country by former Trade Minister Rachid Mohamed Rachid, former Finance Minister Youssef Boutros-Ghali and Egyptian businessman Yassin Mansour that Egypt claims was illicitly gained.

The statement also said the British government is coordinating efforts to return the funds.

The talks are a follow up to a meeting in Cairo last January with UK officials.

At the time, the British delegation, led by Minister of State for Crime Prevention Jeremy Browne, had said his government was doing its best to identify, freeze and return assets that were obtained illegally by officials in the Mubarak administration.

Cairo has so far failed to retrieve any funds smuggled abroad since the 25 January revolution broke out in 2011.

Edited translation from Al-Masry Al-Youm

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