Egypt court rejects Mubarak appeal of fund seizure
The decision clears the way for a criminal investigation and a possible trial of Egypt's ousted leader.
Judicial officials described the decision in closed court to The Associated Press on condition of anonymity because they were not authorized to speak to the media.
There are no official figures on the funds held by Mubarak and his family but many believe they run into the billions, with much of it held overseas.
The officials said presiding judge Makram Awad rejected a defense request for more time to prepare the defense and decided instead to reject the appeal. The opposition that ousted Mubarak has pushed for a criminal investigation and a possible trial for members or all of the family.
Prosecutors' actions suggest that they would be willing to pursue that course of action.
Egypt's attorney general froze the assets of the Mubaraks on Feb. 20 and ordered the family's funds seized eight days later. Authorities also prevented Mubarak's wife and son from flying out of the Red Sea resort of Sharm el-Sheikh, where they are thought to be staying.
During the pro-democracy uprising, unconfirmed reports that Mubarak and his family might have amassed billions, or even tens of billions of dollars, over their three decades in power, fueled protesters already enraged over massive corruption and poverty in Egypt.
Mubarak, top leaders of his one-time ruling party and other cronies, as well as the powerful military have all profited richly from the corrupt system while nearly half of Egypt's 80 million people live under or near the poverty line set by the World bank at $2 a day.
Unlike other Arab leaders, particularly those in the oil-rich Gulf nations, Mubarak was far from ostentatious.
Whatever wealth he and his family may have had was rarely - if ever - flaunted. But that did not stop Egyptians from swapping stories about the size of their wealth and the alledgedly corrupt methods they used to amass it.
The most prominent symbol of their presumed fortune that has surfaced was a townhouse in London's exclusive Knightsbridge district, which is listed under Gamal Mubarak's name and where he was said to have lived while working as an investment banker in the early 1990s. The townhouse has become a focal point for many in Egypt as foreign governments begin to either enact, or consider freezing the family's assets.
Gamal Mubarak was the ousted leader's one-time heir apparent, although they never confirmed the plan and remained evasive on the topic almost until the very end. Kazinform cites Arab News. See www.arabnews.com for full version.