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

Gaddafi’s successors find fault with another of his banks

Posted on 03 April 2014

Libya’s sovereign wealth fund has filed a $1.5 billion (£901.87 million) lawsuit against Societe Generale, accusing it of funnelling bribes worth tens of millions of dollars to associates of Saif al-Islam, the son of former Libyan leader Muammar Gaddafi.
“Societe Generale contests the unfounded allegations in the Libyan Investment Authority’s (LIA) complaint,” a spokeswoman for France’s second-biggest bank said in an emailed statement, without giving more details……………………………….Full Article: Source


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