Libya wants US bank records for $ 100 billion Gaddafi hunt

By Rachel Scharf (December 9, 2021, 4:46 p.m. EST) – The Libyan government on Thursday asked a Manhattan federal judge for leave to subpoena the files of eight major U.S. banks in an attempt to find and recover billions dollars in assets allegedly stolen by longtime dictator Muammar Gaddafi and his family.

The Libyan Asset Recovery and Management Office, or LARMO, estimates that the Gaddafi family is hiding around $ 100 billion in European, African and offshore bank accounts. LARMO said the key to finding these offshore-held assets lies with the US-based banks, which keep detailed records of all transactions processed through the clearinghouse’s interbank payment system. ..

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