Belgium: 10 Billion Euros of Frozen Libya Assets Disappeared From Euroclear Bank

Authorities in Belgium have discovered the disappearance of 10 billion euros of frozen Libyan assets kept in the Euroclear Bank during the period 2013 to 2017, according to the Le Vif magazine.

Region:

Le Vif magazine said these funds were controlled by the inner circle of ousted and killed Muammar Gaddafi.

Over 16 billion euros were located in four accounts opened for the Libyan Investment Authority and Libyan Foreign Investment Company.

Belgium discovered the disappearance of a significant part of these funds in the fall of 2017, when an investigation into money laundering sought to seize the 16 billion euros.

“It turned out that on the four accounts just over 5 billion euros remained.” Le Vif added.

According to the Belgian Ministry of Finance, Belgium did not take any decision to unfreeze these assets.

The investigation into billions of Gaddafi assets held in Belgium discovered big, regular outflows of stock dividends, bond income, and interest payments, the paper suggests.

Legal documents, bank statements, emails and dozens of interviews point to a loophole in the sanctions regime, reported by Sputnik citing Le Vif.

*

Featured image is from Libyan Express.


Articles by: Libyan Express

Disclaimer: The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article. The Centre of Research on Globalization grants permission to cross-post Global Research articles on community internet sites as long the source and copyright are acknowledged together with a hyperlink to the original Global Research article. For publication of Global Research articles in print or other forms including commercial internet sites, contact: [email protected]

www.globalresearch.ca contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of "fair use" in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than "fair use" you must request permission from the copyright owner.

For media inquiries: [email protected]