By Syed Aslam, TMO
While 20 million Egyptian live under 2 dollars a day, Hosni Mubark and his two sons are worth close to 70 billion dollars, says Tom Foreman of CNN news. According to Egyptian law the presidentâ€™s salary is fixed and he is not supposed have any income from outside. This is reason why Gamal Abdel Nasser the most beloved Egyptian had lived and died a simple man. But this dictator has stolen money from Egyptian economy at the rate of 2.4 billion dollars a year. The GDP of Egypt is 470 billion dollars, so Hosni Mubark has robed 16 % Egyptâ€™s GDP. Just think if an American president stole 16 % of Americaâ€™s GDP it will be about 2.3 trillion dollars. The sources estimated that he made money from commissions on arms deals and questionable real estate deals in Cairo and the tourism investment zones. It is a common practice in Middle East that foreigners are required give a local business partner a 50% stake in start-up ventures with no or very little initial investment for local partner. Hosni Mubarak and his family used this practice to amass huge amount of money . A long list of businesses are listed on Internet which are owned by Hosni Mubarak and his family this way. His wealth and properties are hidden mostly in Europe and USA besides Egypt. While millions of Egyptian live in mud huts, Mubarak lived in Egyptâ€™s sprawling Abdeen Palace, which is one of the most sumptuous palaces in the world in terms of its adornments and paintings scattered in the parlors, most of which are decorated with pure gold all paid by the Egyptian treasury. His son, Jamal Mubarak, who was Secretary-General of the ruling National Democratic Party has its own wealth estimated at 17 billion dollars spread over several banking institutions in Switzerland, Germany, United States and Britain.
These greedy people should be tried in the international court for robing their people and their wealth should be confiscated and send back to their respective country. As a matter of fact after the fall of Hosni Mubarak, the Swiss government has declared that his money in Swiss banks will be frozen. I hope other countries do the same.