The Belgian judiciary wants the Chairman of the Libyan Investment Authority (LIA), Ali Mahmoud arrested on charges of corruption and embezzlement, Libya Observer reports, citing Belgian magazine “De Tijd”.
Mahmoud is subject to an international arrest warrant and could be arrested if he leaves Libya and the warrant aimed at investigating lost interest on the LIA’s billions at Euroclear for several years.
According to the Belgian magazine Mahmoud will be a concern for the Belgian Euroclear Bank if corruption charges are proved. The bank and its shareholders, which includes the Belgian government will be liable.
According to the magazine also, the Belgian government released 15 billion euros worth of interest, which were later transferred into foreign accounts in London or Bahrain.
In 2011, the United Nations Sanctions Committee ordered the freezing of large amounts of funds from the Libyan Investment Authority, which included those in the Belgian clearinghouse also known as Euroclear Bank.
Source: north africa post
