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Egypt: At least $34 million seized from Brotherhood

Egypt: At least $34 million seized from Brotherhood

Egypt

At least 34 million US dollars in assets of the Muslim Brotherhood has been seized by Egyptian officials.

According to the state committee charged with reviewing and freezing Brotherhood funds, all confiscated assets are now being managed by government bodies.

The latest findings were announced during a press conference in Cairo on Sunday.

This makes the number of seized associations 1125. The bank accounts of these associations amount to 20,087,000 Egyptian pounds

“This makes the number of seized associations 1125. The bank accounts of these associations amount to 20,087,000 Egyptian pounds (2.5 million US dollars) as well as 64,000 US dollars.” Ezzat Khamis, the head of the committee said.

Since the ousting of former leader Mohamed Morsi, the committee has frozen the assets of hundreds of Brotherhood members, NGOs and companies with ties to the group.

“When it comes to the fate of this money, as you all know, when it comes to the issue of seizure, confiscation, according to the Egyptian constitution, confiscation can only happen through judicial decisions, and until now no verdict has been issued to seize this money, and its fate is tied to the verdicts that will be issued in the cases of the Muslim Brotherhood members that are being tried,” Khamis added.

The government has been carrying out a massive security crackdown on the organization and its activities for the past two years.

The committee was established in October 2013.

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