Swiss Find Little Mobutu Cash
- Share via
BERN, Switzerland — A search of Swiss banks turned up only $3.4 million belonging to deposed Zairian President Mobutu Sese Seko--far short of the billions he and his relatives are believed to have stashed there during his long, corrupt reign.
The announcement Tuesday followed an informal survey of 12 banks in April that turned up nothing. Under pressure from the Swiss government, regulators told the banks to check again more carefully.
Mobutu, ousted last month, is believed to be one of the world’s richest men. After rebels toppled his regime, the Swiss government announced a freeze on any Mobutu assets in Switzerland. Bankers, lawyers, financial managers, trustees and even private individuals were told to report any Mobutu holdings.
While bank accounts are only one of many ways Mobutu could have invested money in Switzerland, other attempts to track down his fortune have been equally unsuccessful.
Tuesday’s announcement by the Federal Banking Commission was based on written reports from each of Switzerland’s 406 commercial banks. Six banks, all unidentified, said they found assets.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
