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

Libya’s sovereign fund seeks investment probe

Posted on 23 September 2011

The new leader of Libya’s sovereign-wealth fund said he has recommended that an independent committee investigate all past investments made during the regime of Col. Moammar Gadhafi for possible corruption.
In an interview, Rafik Nayed, the Libyan Investment Authority’s acting chief executive since last month, said the fund’s investment operations are on hold while a new management team sifts through $65 billion in holdings and tries to unravel previous dealings with people tied to Col. Gadhafi, the former Libyan leader ousted in a rebel uprising this year……………………………………….Full Article: Source


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