Switzerland expects to adopt a new law by the end of the year that will speed restitution of illicit funds stashed in the Alpine country, where thousands of ‘politically exposed persons’ are believed to hold bank accounts, a top Swiss official said on Monday. Swiss authorities are cooperating with a number of countries, among them Haiti, Egypt, Tunisia and Ukraine, to return stolen assets that have been frozen following changes in power, said Valentin Zellweger, head of the foreign ministry’s federal department of international law. Specifically, they are working to return $40 million to Tunisia, a “big slice” of the …read more
Source: Egypt Independent
