UN experts say €10 million in Gaddafi cash in Malta went missing

The company’s accounts in Malta were frozen under the Libyan sanctions.However, the main source of funding for the Mezen account in 2010 was a third company, Moncada International Limited – registered at Sammut’s Mosta address – which transferred over €40 million that year in three instalments.In addition, Moncada received €3 million from Mezen two weeks before the latter closed its account. Moncada was struck off the companies register in September 2013.According to the panel of experts, between 26 February and 14 July, 2011, €10 million was transferred out of the Moncada account, which was never frozen.The panel has recently written to Malta to underscore “that it is crucial to trace that money and investigate its origin”.The playboy son of Colonel Gaddafi died in the Battle of Sirte after being captured by anti-Gaddafi forces on 20 October, 2011, shortly before being executed along with his father. He was 36.Now the Libyan Attorney General – one of the few executive offices that enjoy the recognition of both the Tobruk and Tripoli governments in strife-torn Libya – is trying to take ownership of Muatassim’s wealth held by his Maltese companies.Libya’s claims are being opposed by Safia Farkash Gaddafi, the 63-year-old widow of Muammar Gaddafi, now living in Oman with sons Hannibal and Mohammad, and daughter Aisha.Safia Farkash’s lawyer, Charilos Oikonomopoulos, is opposing the Attorney General’s claims to the “millions” that could be held under Muatassim’s companies, Capital Resources and Mezen International. Under Islamic law, she would be entitled to one-sixth of her son’s wealth, but she is under UN sanctions that froze an estimated €25 billion in state and personal assets she controlled.Oikonomopoulos also claimed that Muatassim Gaddafi had another heir: his hitherto unknown wife Lisa van Goinga, a Dutch glamour model, and her son. “Muatassim seems to remain, post mortem, a threat to international peace and security.

Source:Libya Today

June 21, 2017 09:00 UTC