Switzerland returns $4m belonging to former President Ali’s relative to Tunisia – Report
Switzerland has returned to the Tunisian government an amount of $4 million, which is part of funds in Swiss banks that were frozen in 2011 immediately following the ouster of the former President Ben Ali in what was known as the Arab Spring.
A Swiss publication, www.bundesanwaltschaft.ch reported that acting on a request for mutual legal assistance from Tunisia, on May 26, 2017 the Office of the Attorney General of Switzerland ordered the transfer of an additional amount of approximately $4 million. Swiss authorities in May 2016 made the first restitution of an amount of approximately CHF 250,000 which is about $256,000 to Tunisia.
According to the report the frozen funds were connected to a close relative of the former president Ali.
“The funds are being transferred to the current Tunisian authorities with that person’s agreement. The decision on what should be done with the assets now lies with the Tunisian authorities, and will depend on the proceedings currently in progress in Tunisia,” the report said.
In November 2016, Switzerland reportedly seized and repatriated almost $2 billion of the illicit money stashed in Swiss banks by foreign dictators, according to a report by the website Swissinfo, citing an official.
According to the report, a new law in Switzerland made the seizure and repatriation of the funds held in the country’s banks by foreign dictators, mostly African leaders possible.
It notes that over the past 30 years Switzerland returned almost CHF2 billion ($2 billion) misappropriated and deposited in Swiss banks by “politically exposed persons”.
The report indicated that the government also blocked about $570 million in the case of Egypt, $60 million in the case of Tunisia and about $70 million regarding Ukraine. The Tunisian assets are set to remain frozen until January 18, 2017, and the others until February 2017.
By Emmanuel K. Dogbevi
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