Billions of dollars stolen by former Libyan leader Moammar Gadhafi are hidden in clandestine bank accounts and secret vaults in the United States and two southern African countries, say intelligence operatives and financial investigators.
The latest news was first reported by online magazine, Africa Confidential, on May 9.
According to the report, Libya’s Asset and Management Recovery Office says at least $50 billion in oil revenues pillaged by Gadhafi between 1994 until his murder in 2011 were invested in “debt instruments”—including treasury bonds—using front companies, nominees, and banks that routed the money via Europe to the United States.
Separately, intelligence agents and a former top government official in Pretoria told The Epoch Times about $20 billion stolen by Gadhafi is spread across banks in South Africa.
They added that $30 million in cash flown by Gadhafi to South Africa in the months before his execution by rebels is now hidden in Eswatini—the small kingdom neighboring South Africa and the continent’s last absolute monarchy that was formerly called Swaziland.
The man leading the hunt for Libya’s missing public funds, Asset and Management Recovery Office Director-General Mohammed al-Mensli, confirmed that hundreds of billions of dollars were stolen during Gadhafi’s brutal military rule.
Hellbound and Down 