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Swiss Banks Freeze DICTATOR’s Funds …

The EYE-BALL Opinion

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Title: Swiss Banks Freeze Funds

Byline: Nth African Dictator’s Funds Found …-

Article by: EYE-BALL

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An ABC story earlier in the week revealed that Swiss Banks had frozen $880 million belonging to Mubarak and Gaddafi – demonstrate how International Banks are happy to play Banker to Corrupt Leaders when it suits them … the ABC story is posted below:

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ABC Australia Home Page Link

Swiss reveal frozen millions stashed by Gaddafi, Mubarak: …

…linked here

Swiss authorities say the country has frozen $880 million of funds belonging to north African strongmen since the start of this year’s popular uprisings.

Swiss Foreign Minister Micheline Calmy-Rey revealed the figure during a conference in Tunisia, where she is on a three-day visit, foreign ministry spokesman Lars Knuchel said.

Most of the blocked funds – $430 million – are linked to former Egyptian president Hosni Mubarak and his associates, Mr Knuchel said.

Another $380 million blocked by Switzerland is believed to belong to Libyan leader Moamar Gaddafi’s regime and $63 million to former Tunisian leader Zine El Abidine Ben Ali and his associates.

Switzerland ordered the freezing of the assets of Mr Ben Ali and Mr Mubarak shortly after they were toppled in popular uprisings in January and February respectively.

It ordered a freeze on Mr Gaddafi’s assets in February after he cracked down on opposition protests.

Both Tunisia and Egypt are in touch with Swiss judicial authorities regarding their formal requests for legal assistance to seek return of the funds and property, according to Mr Knuchel.

No such discussions are underway with authorities in Libya, where Mr Gaddafi is clinging to power in the face of an uprising and NATO air strikes.

Neutral Switzerland had previously announced it was freezing any assets linked to the three North African leaders, thereby requiring financial and other institutions to report any suspicious funds.

The respective amounts were fairly “stable”, based on information provided by Swiss-based financial institutions to authorities, Mr Knuchel said.

He declined to name the banks or the cantons in which the accounts or properties are held.

“We never specify the institutions. It is not just money, there are real estate assets,” he said.

Swiss authorities also froze assets belonging to Ivory Coast’s now deposed president Laurent Gbagbo in January.

What can an individual do with USD$800 million that they can’t do with USD$50 million – these funds are there to use to keep them in power by buying the military personnel and hardware to suppress civil unrest … these funds are the tip of an iceberg after decades of OIL revenues not used to improve the quality of live of the people living under these regimes …

As for the BANKS – well I ask you – how can you trust them not to allow what they have to know was corrupt intent behind the transfer of funds – and then when the Dictator is outed – they come to the party and double cross their client – do you think a court of LAW would find the BANKS guilty of a betrayal of a client’s confidence …

JUSTICE is a subjective notion and on the WOrld Political stage – it is for sale …

The EYE-BALL …

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  1. Hank Rudney
    May 27, 2011 at 1:14 pm

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  1. May 29, 2011 at 10:47 am
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