Switzerland Freezes Mubarak's Assets -- rumoured As Much As $70 Billion

The Swiss foreign ministry says it has frozen all assets linked to Mubarak and his family.

Mubarak’s family is said to have as much as much as $70 billion. Reports ABC News:

Experts say the wealth of the Mubarak family was built largely from military contracts during his days as an air force officer. He eventually diversified his investments through his family when he became president in 1981. The family’s net worth ranges from $40 billion to $70 billion, by some estimates.

Mubarak’s family is said to own properties in London, Paris, Madrid, Dubai, Washington, D.C., New York and Frankfurt, according to IHS Global Insight.

The president is reportedly hiding out in Sharm El Sheikh.

See pictures of this beautiful resort town >

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