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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Libya vs Western bankers

Posted on 13 February 2014

Late last month, Libya’s sovereign wealth fund sued the global investment bank Goldman Sachs at London’s High Court. It is alleged that the fund lost in excess of 1 billion US dollars in 2008 through poor investments advised by Goldman, which denies the allegations.
Prior to the 2011 uprisings, the Libyan Investment Authority (LIA) was often portrayed by the international media as one of the few instances of true modernization occasioned by Gaddafi’s détente with the West. It had offices in London and its chairman, Mohamed Layas, was about as seasoned a technocrat as the Libyans had to offer………………………………………..Full Article: Source


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