CAIRO, Jan 16 (Aswat Masriya) – Prosecutor General Nabil Sadeq is currently holding a meeting with his Swiss counterpart in Cairo regarding the recovery of former president Hosni Mubarak's illicit funds held in Switzerland.

The meeting comes after the Court of Cassation's issued its final verdict in the "Presidential Palaces" cases on Jan. 9, after an appeal by the former president and his two sons was rejected.

The meeting discusses the means by which frozen funds could be retrieved.

In May 2015, the Cairo Criminal Court ruled to imprison Mubarak and his sons, Alaa and Gamal, for three years and to fine them EGP 125 million and 779,000 ((around $99,489). The three were also obliged to repay 21 million and 107,000 EGP (around $2,694,797).

Last October, Alaa and Gamal were released by a Cairo court for having completed their three-year prison sentence in the case. Mubarak is also not imprisoned and resides in a military hospital in Maadi.

The Prosecutor General had accused Mubarak and his sons of seizing and facilitating the seizure of funds worth EGP 125 million in the period between 2002 and 2011.

The amount of cash frozen in Swiss bank accounts belonging to Mubarak regime figures amount to $650 million.

Since 2011, Egyptian authorities had repeatedly requested the Swiss Prosecutor's help recovering assets they suspected were held in Swiss banks.

Swiss legal procedures require the presence of legal evidence that the funds were obtained from illegal sources, whether through corruption, embezzlement or money laundry, in order to arrange their recovery.

No assets or funds have been retrieved since 2011 because of the absence of a final verdict in Mubarak's cases involving illicit funds and money laundering, according to the Head of the Directorate of international law at the Swiss Federal department of Foreign affairs, Valentin Zellweger.