Blind Item: What’s The “Prominent Hedge Fund” With Close Ties To The Mubarak Family

Hosni Mubarak speech

Yesterday it was reported that Hosni Mubarak had a heart attack before he was scheduled to be questioned by prosecutors investigating the many allegations against him.

An article in Zim Daily has a new piece of information about the line of questioning.

It says that, “The Mubarak family’s extensive business links and ties to a prominent hedge fund are believed to be at the centre of official enquiries.”

The hedge fund isn’t named.

Mubarak’s ties to a hedge fund might be important because investigators are questioning the manner in which Mubarak amassed his immense wealth. The Zim Daily article also mentions that “opposition activists allege that members of the Mubarak family exploited their powerful position to amass a multi-billion dollar fortune.”

If there’s any concern about the investigation causing trouble for the unnamed hedge fund, here’s some good news. A Foreign Ministry official says, “To start with, some of the allegations levelled at the Mubaraks are very difficult to prove, like when they say that Alaa abused his position to acquire huge funds; you have to go case-by-case and prove that this or that amount or this or that building was acquired illegally.”

Possible clues: it might be a UK-based hedge fund. It’s been said that Mubarak had close ties to the London and the UK.