Gaddafi's Wealth: Gold, diamonds, gems, and planes, Libya searches for Gaddafi's billions of wealth

Gaddafi’s Wealth: Gold, diamonds, gems, and planes, Libya searches for Gaddafi’s billions of wealth

World, News By Apr 25, 2023 No Comments

The issue of billions of rupees (Gaddafi’s wealth) owned by former Libyan president Colonel Muammar Gadhafi is currently the focus of the country’s current government.

What happened to Gaddafi’s wealth?

The government is trying to find out their properties and assets at home and abroad, and the wealth hidden in banks abroad.

Abdulhamid al-Dabiba’s government still desperately needs Washington’s help to recover tens of billions of dollars from state assets that Gaddafi and his inner circle allegedly hid around the world.

According to a 2016 report by Transparency International, this amount is estimated to be about $ 120 billion, which was looted from the Libyan state and its assets and transferred abroad.

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According to the Wall Street Journal, a UN agency was able to help Libya track and identify assets worth just $54 billion, including gold, diamonds, planes, and ship deposits in banks.

In this context, Mohammad Ramzan Mansali, the Libyan official in charge of recovering these assets, explained that he has appealed to meet with US officials in Washington.

In addition, he pointed out that some governments have reservations about whether the Libyan government is able to manage this size.

He, however, made it clear that any exported funds would remain in a safe place abroad before being returned in installments for specific projects such as building schools and hospitals to reassure those countries. This huge amount can also be paid in installments as well.

Gaddafi's Wealth: Gold, diamonds, gems, and planes, Libya searches for Gaddafi's billions of wealth
Photo of Muammar Gadhafi and supporters of the former government

Gaddafi’s wealth: 8 planes that were paid

Mansley said eight C-130 aircraft were paid to the United States during the regime of former dictator Colonel Gadhafi, but they were not handed over to Libya.

The existence of two competing governments in Libya and the failure of political officials to hold constitutional parliamentary and presidential elections so far hinder legal efforts to revive Gaddafi’s wealth.

The controversy over the presidency within the Office of East Recovery had affected some previous asset recovery efforts in the United States.

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