In an article for Commercial Crime International, Paul Cochrane discusses the ongoing search for billions of dollars in assets and funds that were stashed away by the Gaddafi regime over the years. The hunt is still on but with Libya in chaos, there is no effective state to push the investigation and repatriate the cash, while commercial crime in country reaches record levels.
While investigations are ongoing, impetus has dipped since the National Transitional Council (NTC) were trying to gain international legitimacy in the comparatively stable 12 months following Gaddafi’s death. “In the 2011-12 period, American, British and European individuals were promised by the NTC to find the missing cash for a roughly 15 percent stake. Those arrangements were always suspect and have mostly lapsed,” said Jason Pack, executive director of the US-Libya Business Association, in Washington DC.
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