The Hunt For Gaddafi Overseas Property

  • 13 years ago
  • Uncategorized

Western governments and the United Nations are tracking Libyan leader Moamer Gaddafi assets including overseas property in a bid to stop him benefiting from the real estate investments. Spain was one of the first governments to stop his plans to build luxury Spanish homes in Costa del Sol.

A twenty five square mile land plot in Malaga southern Spain was bought by the Libyan government more than 20 years ago and was in the process of being developed to build around 2,000 homes and a golf course. The complex in Benahavis would also have included a golf course and a congress centre.

The measure was based on sanctions approved by the United Nations Security Council and by the European Union against the Libyan regime.

All rights to the lot will be suspended so the Libyan regime can’t rent any of it to secure cash

 

The hunt for Gaddafi’s riches continued around the world the Austrian government froze $1.6 billion in Libyan assets, while the U.K. revealed that it foiled a plot to export $1.38 billion in fresh banknotes, in addition to the $1.6 billion it froze.

 

The U.S. government has now frozen over $30 billion in Libyan assets which is believed to be the largest blocking of any sanctions program in U.S. history.

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