“There remains a little less than 5 billion euros on the four accounts opened at Euroclear Bank SA.”
Denis Goeman — Spokesman from Brussels’ prosecutor’s office
“Making the interest and other earnings freely available to the Libyan Investment Authority is in non-compliance with the sanctions regime. Furthermore, considering the instability in the country, the disputes over the authority of the Libyan Investment Authority and the lack of an oversight mechanism, doing so could lead to the misuse and misappropriation of funds.”
UN Report
“Nobody is preoccupied with the question of where the funds have gone and who benefitted from them. What is surprising is that nobody wanted to see what was going on and everyone is shutting their eyes at a political level … This is an extremely serious problem as it could uncover a real state scandal.”
Robert Wtterwulghe — Law professor at UC Louvain University
Brussels, Belgium ( March 9 2018) — After Gaddafi’s death in 2011, the U.N. passed a resolution to freeze his wealth, with the idea that it would be held in trust for the Libyan people until the war-shattered country stabilizes. Four separate accounts opened for the Libyan Investment Authority and Libyan Foreign Investment Company in the Euroclear bank held about 16 billion euros when they became ‘frozen’ under UN sanctions in September 2011. Today, there remains about 5 billion euros on these accounts. Follow us on Twitter: @Intel_Today Continue reading →
