* Swiss have frozen assets linked to 4 dictators
* Bulk tied to former Egyptian President Mubarak
* Restitution will take years, Swiss official says
* Govt plans to submit new law to parliament in 2013
By Stephanie Nebehay
GENEVA, Oct 16 Switzerland has blocked nearly
one billion Swiss francs ($1.07 billion) in stolen assets linked
to dictators in four countries at the centre of the Arab Spring
- Egypt, Libya, Syria and Tunisia - the Swiss foreign ministry
said on Tuesday.
Swiss authorities are cooperating with judicial authorities
in Tunisia and Egypt to speed restitution of the funds, but it
is expected to take years, said Valentin Zellweger, di rector o f
the international law department at the Swiss foreign ministry.
"Today a total of one billion francs is blocked in the
framework of Arab Spring," Zellweger told a news briefing,
giving the latest figures for funds frozen since Ja nuary 20 11.
The bulk of the assets, nearly 700 million francs, are tied
to former President Hosni Mubarak and his entourage, he said.
Swiss Foreign Minister Didier Burkhalter held talks in Cairo
on Sunday with his Egyptian counterpart Mohamed Kamal Amr on
judicial cooperation to restore the embezzled funds, he said.
Some 60 million francs linked to ousted Tunisian President
Zine al-Abidine Ben Ali has also been b locked in Swiss coffers,
The Swiss government acted swiftly, ordering a freeze on any
accounts held by Ben Ali five days after he was toppled, and
within half an hour of Mubarak's fall in Febru ary 2 011, he said.
"For the moment there are 80 people from these two countries
who have their accounts blocked in Switzerland, so as you can
imagine this implies an enormous amount of work. It involves not
only Ben Ali and Mubarak but also their entourages," h e said.
Swiss authorities have found more than 140 accounts tied to
the two north African leaders and their associates, and are
tracing tens of thousands of financial transactions, he said.
The Swiss government plans to submit draft legislation to
parliament early next year aimed at strengthening its legal
arsenal for swiftly freezing and repatriating proceeds stashed
by corrupt regimes, he said.
The law would probably not be adopted until 2015 after
consultations are held with lawmakers, cantonal authorities, and
the Swiss Bankers Association, Zellweger told Reuters.
"In the past, the affair that was resolved most quickly was
Abacha and it took 5 years," he said, referring to assets linked
to the late Nigerian dictator Sani Abacha.
GADDAFI, ASSAD FUNDS
In line with U.N. Security Council sanctions, 100 million
francs linked to the late Libyan leader Muammar Gaddafi remains
blocked in Switzerland. Oth er Libyan funds have been released as
sanctions were eased on state-run enterprises, Zellweger said.
Some 100 million francs linked to Syrian President Bashir
al-Assad, associates a nd Syrian companies are blocked i n line
with European Union sanctions adopted by non-EU Switzerland.
Switzerland broadened sanctions against Syria on Aug 14,
banning three Syrian firms, including the national airline, from
doing business in the country, and imposed travel bans and asset
freezes on 25 more Syrians, mainly military officials.
Switzerland has worked hard to improve its image as a haven
for ill-gotten gains, seizing the assets of deposed dictators
and agreeing in 2009 to soften strict bank secrecy to help other
countries catch tax cheats.
The neutral Alpine country, which requires its banks to
report accounts of suspicious origin, says it has restored a
total of $1.7 billion embezzled by strongmen including th e late
Fer dinand Marcos of the Philippines and Mobutu Sese Seko of
"It's a continuation of the policies that the Swiss Federal
Council started 25 years ago in the case of Ferdinand Marcos.
The Swiss government has made it very clear that funds of
illegal origin are not welcome in Switzerland," Zellweger told
"No other financial centre has recovered so much funds for
their countries of origin," he said.