- The Belgian judiciary has charged the Chairman of the Libyan Investment Authority (LIA), Ali Mahmoud, with corruption and embezzlement. It has issued an international arrest warrant against him.
- Â Under the international arrest warrant, he risks arrest if he leaves Libya and can be handed over to Belgium.
The Belgian judiciary has charged the Chairman of the Libyan Investment Authority (LIA), Ali Mahmoud, with corruption and embezzlement. It has issued an international arrest warrant
against him. Under the international arrest warrant, he  risks arrest if he leaves Libya and can be handed over to Belgium.
The Belgian magazine “De Tijd”, reported that the arrest warrant is aimed at investigating lost interest on the LIA’s billions at Euroclear Bank for several years. United Nations Sanctions Committee according to the report had in 2011 ordered to freeze most of the funds of the Libyan Investment Authority, including those in the Belgian clearing house, also known as, Euroclear Bank .According to the magazine, the Belgian government released interests worth 15 billion euros, which were later transferred to foreign accounts in London and Bahrain. If corruption charges are proven, the bank and its shareholders, including the Belgian government, will be liable.
