August 29th, 2011
$33 Billion Illicitly Left Libya between 2001-2009, Says Global Financial Integrity
Since the forces of the Libyan Transitional Council entered Tripoli last week, Muammar Qaddafi has not been seen, presumably hiding or on the run from the revolution aimed at ending his 42-year rule. But as pointed out
on ABC News
last Wednesday, much of the money he looted from the country over the past 4 decades is still at large as well.
Citing Global Financial Integrity
(GFI) research, ABC notes that at least $33 billion dollars left the country through illicit means in...
May 26th, 2011
Task Force member Global Witness today revealed
that HSBC, Goldman Sachs, Société Générale, JPMorgan Chase and many other western financial institutions appear to have held and managed billions in Libyan state oil money under the rule of Col. Muammar al Gaddafi.
to the media from Global Witness early this morning began:
LONDON and WASHINGTON, DC – HSBC and Goldman Sachs are among the key western bankers for Colonel Gaddafi’s regime, a 2010 document leaked to Global Witness appears to show. The...
May 25th, 2011
LONDON and WASHINGTON, DC – HSBC and Goldman Sachs are among the key western bankers for Colonel Gaddafi’s regime, a 2010 document leaked to Global Witness appears to show. The document details the whereabouts of state oil revenues. However the Libyan people could not know where it was invested or how much it was, because banks have no obligation to disclose state assets they hold. Global Witness is now calling for new laws requiring banks and investment funds to disclose all state funds that they manage.
March 7th, 2011
WASHINGTON – US banks uncovered billions of dollars that they were indirectly holding for Libya when Washington decided to freeze assets linked to the regime, according to US officials.