Britain pledges to support Egyptian funds recovery

The British government has promised to provide Egypt with legal and judicial help towards retrieving funds held by former regime figures, a spokesperson for Egypt's General Prosecution said in a statement on Sunday. Spokesperson Mostafa Dweidar has explained that British Ambassador to Egypt, James Watt, held talks with prosecution officials over the last three days, before delivering an official letter bearing his government's pledge to Prosecutor General Talaat Abdallah. Dweidar's statement states that Britain has relayed "important" information to Egyptian authorities during the meetings, about funds and assets in Britain which belong to former regime stalwarts. The statement also refers to the "suspicious" behaviour of these figures, including the setting up of companies in Britain and their links to original establishments in Egypt, as well as companies established in other countries. Money laundering investigations will be launched based on the information received, the statement said, whilst any ongoing probes would be boosted by the additional evidence. Britain has already sent a judicial representative to Egypt to handle the recovery of funds belonging to the former regime, and to relay the results of meetings with Egyptian officials back to London.