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Sovereign Wealth Funds Briefing - Categorized | Market, Trends

SocGen deals with Libya sovereign fund eyed by new government

Posted on 07 September 2011

Officials in Libya’s new governing authority are looking into whether any payments made by Société Générale SA as part of its relationship with the Libyan Investment Authority made it into the hands of people close to the ousted regime of Col. Moammar Gadhafi, the Wall Street Journal reported.
The Journal reviewed documents showing that the French bank paid an unspecified amount to a Panama-registered company, Leinada Inc., to help structure and advise a $1 billion investment vehicle in 2008 for the LIA, Libya’s sovereign wealth fund……………………………………….Full Article: Source


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