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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials, Fund Management/Administration

Rebels take Tripoli airport, $2.9bln missing from wealth fund

Posted on 29 August 2011

some $2.9bn (£1.8bn) is missing from the accounts of the Libyan sovereign wealth fund, the official tasked with tracking down Libya’s foreign investments has told the BBC.
Mahmoud Badi said investigations had found “misappropriation, misuse and misconduct of funds” at the Libyan Investment Authority (LIA). The LIA has total funds worth about $70bn……………………………………….Full Article: Source

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