Monday, June 3, 2013

Gaddafi-linked assets worth $1bn in South Africa


South African officials are investigating claims ex-Libyan leader Muammar Gaddafi and his family stashed $1bn (£600m) in assets in the country. Libya has reportedly called for help in repatriating diamonds, gold and cash.

The assets were being held by four banks and security companies in South Africa, reports quoting Libyan investigators say. Some estimates suggest that Gaddafi's total foreign assets could be worth as much as $80bn.

Gaddafi was captured and killed as he tried to flee his home town of Sirte during Libya's political uprising in October 2011. Any assets belonging to him or his family are firmly considered by many Libyans as state-owned property that should be returned.

Libyan investigators had met South African Finance Minister Pravin Gordhan and President Jacob Zuma to discuss locating and returning the money.

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