The Hijacked Wealth

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After the Arab Spring movements overturned the rulers of Tunisia and Egypt, Libya experienced a full-scale revolt beginning on 17 February 2011. The civil war resulted in the ousting and death of the country's despotic dictator Muammar Gaddafi, and the collapse of his 42-year long tyranny. The liberation of Libya was celebrated on 23 October 2011. At least 30,000 Libyans died in the civil war. No doubt all those who sacrificed their lives for the liberation of their homeland dreamed of a better future for their children and countrymen. They hoped a day would come when Libya would prosper and thrive. But that day will not come soon. It is estimated that it would take at least 10 years merely to rebuild Libya's infrastructure. Even before the 2011 war, Libya's infrastructure was in a poor state due to "utter neglect" by Gaddafi's administration. Yet Libya has a new obstacle to overcome; its assets have been stolen and the country has no wealth to build its future on. This is the story of how Libya, a once wealthy African nation with its vast reserves of oil is now down on its knees and its wealth being stolen by Western Powers now. This has only added insult to the injury of decades of Gaddafi’s dictatorship.

Mamdouh salama: World Bank oil consultant

-Troubles political troubles in Libya the media. Describe these troubles as a revolution in Libya.

Mohammed Al-Oraby: Ex-Egyptian minister of foreign affairs

- Western plans on Libya will never stop, and these plans are always linked to the European galaxy. These western plans are the same for all countries.

Kamal Al-Qattani: professor Omar el-mokhtar University

- Indeed, the Libyan government is still working on getting back Libyan wealth.

Narration:

- Gaddafi, hider of the new underworld. Chapters of his lifetime dictate to the world how mystery is ought to be. Many argued that the most of these chapters is his relation with the west. It passed through many ups & downs which made a full-stop at the end of the sentence. For understanding the secrets of the black box of this relationship we should trace its details from the very beginning , when Gaddafi took the command of Libya in 1921

Yassin Samalossy: Head of Arab Revolutionaries Union

- When Gaddafi undertook the revolution on September 1st, 1961,

We thought what happened was a "revolution".

At that time, there were three powers present in Libya; there was a presence for the Americans, the British, and, somewhat, the French.

US base was very close to Tripoli. But, unfortunately, we were fanciful enough, believing there was a revolution to terminate the presence of these bases.

Ayman marzoki: Political activist

Gadhafi first came to power. He used to believe in the Arab unity during the Nasser time. So, for him, being an anti-West is a good reputation,

And this brought him much closer to the Arab nationalism.

Narration:

Libyan Investment Authority. The basic investment arm of the government and one of the world biggest supreme funds, It invested billions of dollars on the platforms of world's largest financial organization and owned big shares in international companies. The authority was totally controlled by Seif El-Eslam El-Gad`dafi. On the other side, Libya's state owned oil

company controls most of its production, but foreign oil companies help the process of production of top international companies in thousands of barrels per day.

Kamal Al-Qattani: professor Omar el-mokhtar University

Gaddafi regime was directly dealing with Western countries, in ways to fulfill his own personal interests, and to stabilize his regime, so as to remain for the longest time in power.

Lindsey hilsum: Editor, author of sand storm

When coup came in 9191 British came very unhappy can before and relies this was so himself and new nasa is so themselves a revolution as the imperialist an , the American wants be sure

Mohammed Al-Oraby: Ex-Egyptian minister of foreign affairs

Things progressed further after this when he started to feel he's the leader of Africa and the inspired leader of the whole continent. He thought the main strategy to embark on to benefit his leadership, is to give his face to Africa. Of course, his presence in Africa was disapproved by some countries, especially France. Actually, this issue got them worried. France has power in Francophone countries. We also need not to forget that the Lockerbie incident was pivotal.

Ayman marzoki: Political activist

When he blasted Lockerbie airplane, the Libyan people started suffering. Libya was embargoed for 14 years. Libyan Dinar instead of being equivalent to 1 or 2 dollars was worth 66 Egyptian piasters or the equivalent. So every action Mu'amar Gaddafi was taking, affected the Libyan people negatively.

Lindsey hilsum: Editor, author of sand storm

The thirty point Gaddafi’s relationship with America after nine eleven Gaddafi was very careful the to the American about what happened and was said he American be in help

Mohammed Al-Oraby: Ex-Egyptian minister of foreign affairs

From this point forth, things began to change. Also, he realized, through his experience and his age as he grew older, that he needs the West. He engaged in developmental projects in his country.

Hugh miles: Journalist on Middle East affairs

2004 Libya began become more international

Fakhery al-fiky: Economic expert

From this point forth, things began to change. Also, he realized, through his experience and his age as he grew older, that he needs the West. He engaged in developmental projects in his country. The history of the Authority of Libyan Investment started after the economical shift program. After the end of the Libyan embargo, the program started in 2663. And part of this program was to give a push to the Libyan private sector in investment. Also for foreign investment to get inside Libya, and in this case have a new recovery. So, the Libyan Investment Authority was founded.

Kamal Al-Qattani: professor Omar el-mokhtar University

In 2666, there was an unexpected change in Libya by the Gaddafi regime. One of the reasons for this change was the pressures from the West to lift one of the conditions for the Gaddafi regime to take Libya off the list of terrorism. Therefore, Saif al-Islam Gaddafi Foundation was founded.

Fakhery al-fiky: Economic expert

If we want to find out who was behind the operations of the Libyan Investment Authority, it's natural to find out that Seif al Islam Mu'amar Gaddafi was that man. Along other things going on in Libya, especially starting 2006.

Ayman marzoki: Political activist

Regarding the economic aspect before the Libyan revolution against Mu'amar Gaddafi, was an economic operation not in the nominal sense.

.The dire need of Libya was how to push funds out of Libya. It's a must when I start to push funds.

Nicola tinebra: Economic expert

Unicredit bank is considered one of the largest Italian banks. there are Libyan investments in the largest Italian industrial clusters , it is a major industry cluster based on the production of aircraft : helicopter , trains and ships : where the participation share rates are up to %2

Ayman marzoki: Political activist

It's a must when I start to push funds, to consider how the people will talk about these billions. They have to be in the form of certain investments. So, I witnessed this. I lived in Libya with my ancestors.

And never did we see any investments on the ground in Libya. Especially the Man-made river project. There was nothing. So the investment matrix was pumping money in the European region entirely

Mamdouh salama: World Bank oil consultant

I have no defoggers on in Libya but what I know is that many of the western all company like ENI Italy and total of France

Narration

Libyan Investment Authority. The basic investment arm of the government and one of the world biggest supreme funds, It invested billions of dollars on the platforms of world's largest financial organization and owned big shares in international companies. The authority was totally controlled by Seif El-Eslam El-Gaddafi. On the other side, Libya's state owned Oil Company controls most of its production, but foreign oil companies help the process of production of top international companies in thousands of barrels per day.

Fakhery al-fiky: Economic expert

The Libyan people were entitled to know about their assets overseas, there is scattering of Libyan money, there was no overseas on the investment operations by the institution, I.e., Libyan oil incomes is 056b a year. And the Libyan population is 6 million people. Minimum principles of social justice require to distribute 016b. Although. The government never did this nor even invested this money inside.

Lindsey hilsum: Editor, author of sand storm

The Libyan investments was put Libya relation into the world and I think western countries though in visit London and I thought of Libya into the world , gadafi pass all generation to the next

Kamal Al-Qattani: professor Omar el-mokhtar University

Actually, Gaddafi Institution led the corruption inside the regime.

Aiming to transfer power to his son Seif al Islam. They used these amounts of money to support Seif al Islam in inheriting power in Libya.

Nicola tinebra: Economic expert

Libyan sovereign capital investments – I think – go beyond 1 billion euros!

Fakhery al-fiky: Economic expert

- This institution was undertaking the operations of organized looting of Libyan wealth. There are numerous instances standing for that. Now I can recall the example of Goldman Sachs. This bank was investing tens of billions of dollars of Libya's wealth.

Hugh miles: Journalist on Middle East affairs

Story with golden 9 one of number of western banks wanted to be big bank in Libya

Mamdouh salama: World Bank oil consultant

Libya was producing a 9.9 million a day. It was exporting around 9.%1 million a day, in other way one million most of the Libyan exports use to

Narration

Libya's net oil exports for 9001 are estimated at 9.1 million barrels a day, most of which went to European countries. Through the Libyan investment authority and oil companies, The Europe and the United states controlled the source of Libyan income which is described to be the turning point in relations between Gaddafi and the West.

Fakhery al-fiky: Economic expert

Let's not forget that Libya gets 56 billion dollars yearly from oil export,

Which constitutes 169 of the national GDP.By the establishment of the Libyan Investment Authority, it would be easy for the man who controls it, to control everything in Libya.

Yassin Samalossy: Head of Arab Revolutionaries Union

Libya was on the list of terror-funding countries. In 2006, Libya was taken off this list. Because there were consequent changes happening all over the Arab world.

Mohammed Al-Oraby: Ex-Egyptian minister of foreign affairs

Gaddafi developed a new strategic economic thinking. He realized that the western world, especially Europe, needs the Libyan investments.

Narration

Gaddafi survived but he wanted more, he wanted respect, prestige and playing his role. Gaddafi called his new friends to visit Libya as he became a new player on the world stage and launched one of the largest oil reserves. Everyone thought his favors'. Gaddafi met with Tony Blair several times and granted him billion dollar contracts for Shell and British Petroleum.

Fakhery al-fiky: Economic expert

Not just that; we should have in mind that lifting the embargo off Libya and the restoration of normal relations with the West, Especially the US, France, England and other Western states, started to restore their relations with Libya. And they started to welcome this direction. They started also to welcome Seif al Islam to play a role. As long as he gives room for the private sector and the foreign investments getting into Libya.

Hugh miles: Journalist on Middle East affairs

Sundry they had some western countries because want reason to stay in Libya and business want access and another business in Libya it is very many western to make contracts I think about to accept

Mohammed Al-Oraby: Ex-Egyptian minister of foreign affairs

These investments were in the form of stocks in mega companies, German, French or Italian. And in the form of assets and palaces in Europe and in many capitals of the world. Actually, economic power almost maximizes the political power of any president.

Gilbert achcar: Professor, university of London

And so yes mean if we take the relation with that about, of course before this kind of new relations …

Hugh miles: Journalist on Middle East affairs

One country of %009 the western countries in Libya I wanted to marriage I wanted Libyan and once Libyan we sow media if dose not companies.

Ayman marzoki: Political activist

European countries were in fever race to acquire oil contracts; Either by prospecting, investigations, etc. For instance,

France was in through Schlumberger for oil field explorations.

So if we look... For instance. The Americans were competing the French in this field through "Baker".

Italy won the lion's share through their "Melita".

Antonio Badini: Fmr. Senior official , Italian foreign ministry

Eni has significant activities in Libya, and Eni aspirations in Libya are endless. Italian – Libyan agreement was on repaying Libya the wealth seized by Italy in later years, through giving Eni a concession inside Libya to invest and develop the country.

Gilbert achcar: Professor, university of London

The report that Gaddafi for this radical change was a radical change to countries condlisa rise press Gaddafi every one and they started you know re-establish relations diplomatic relations and even world diplomatic.

Ayman marzoki: Political activist

Mu'amar Gaddafi started to let out with contracts, or we could say sell oil contracts to improve his international relations with the EU, And use it as a leverage on the EU and the US itself. When I think about punishing Libya, I have to think a hundred times. I can't punish Libya as I have economic interests inside it.

Lindsey hilsum: Editor, author of sand storm

The Western countries very happy with Gadaffi they very well companies or bank they making a lot of money when the revolution started

Yassin Samalossy: Head of Arab Revolutionaries Union

The entire west knew that the revolutionaries of Libya are not turning back. They knew they would receive a strong support from

Their revolutionary counterparts in Egypt and Tunisia. And Gaddafi by war standards is bound to fall. They wanted to run ahead of time

And make friends with the revolutionaries and not Gaddafi. As Gaddafi, they knew that his time was up.

Mohammed Al-Oraby: Ex-Egyptian minister of foreign affairs

The end of Gaddafi is related to his beginning and his relation with the West. We found that in the Arab spring revolutions, The Libyan scenario started with an idea that was not applied in any other country,

For NATO forces to hit in Libya the strongholds of the Libyan army.

Antonio Badini: Fmr. Senior official , Italian foreign ministry

It was very remarkable when the US informed the Italian army of its intent to attack sirte from US basses in Italy. We informed Gaddafi of the American attack via the secret service to prepare. They informed Gaddafi because the prime minister believed that the termination of Gaddafi life is a gamble and loss of a reliable person who can benefit in the dialogue over Libya future.

Gilbert achcar: Professor, university of London

The question he is winded and up inter , I think one but one key reason for the fact in Libya is of course the fact Libya important all state .

Nicola tinebra: Economic expert

Under French pressure, there is possibility of increasing economic influence in Libya. England also aims at the same goal, as well as America. The United Nations decided to impose no-flight zone: with NATO intervention in Libya.

Hugh miles: Journalist on Middle East affairs

I think to %009 in Libya oil of course Libyan is to world largest in Africa

Narration

The Question is still open about the destiny of the Libyan investment in Europe after military intervention in Libya, how it can be possible to come back to the country. Libyan assets in Italy are exceeding 91 billion dollars another 90 billion dollars in Germany, another 91 billion dollars in the United kingdom, and about 92 billion dollars in the United states. Responding to the western request on a naval base in Libya, Gaddafi told the American diplomats and the great powers that he will no longer welcome a US military strategic base. Hence it was the beginning of a turbulent phase for Libya's leader

Ayman marzoki: Political activist

The EU, after the huge investments they made with Libyan assets, has accepted to participate in the attack against Mu'amar Gaddafi. And that's of course very obvious. When Mu'amar Gaddafi is giving me 169 of the oil contracts, 169 or the entire field?

169 from Mu'amar Gadhafi, or all of Libya? The cake is in front of me, and when I attack with the NATO I would have my hands on Libya.

Narration

The Libyan billions of dollars scattered in the international banks are just for the Libyan people. The government keeps trying to bring it back or a part of it although almost of them are inaccessible because they are registered by fake names of families or persons. The Libyan Hijacked wealth according to current investigations tops 00 billion dollars.

Yassin Samalossy: Head of Arab Revolutionaries Union

Gaddafi was always and forever smuggling the Libyan people's money. He invested them in all capitals of the world. Especially in the states with which he had good ties in the intelligence services, to guarantee that his money will be kept safe for him, even if he is overthrown. That's why unfortunately we currently pay the bill.

As when we wanted to look for Gaddafi money, we faced great difficulties. Gaddafi business was run in collaboration between Gaddafi Secret Service and the Intelligence Services of these states.

Fakhery al-fiky: Economic expert

If any president takes steps to get back such money it's not an easy thing.

Kamal Al-Qattani: professor Omar el-mokhtar University

All the presidents and high officials inside the Libyan investment authority who are tracing the thread of money were porne to be dismissed, because the Gaddafi regime was too vital before the political isolation law.

Ayman marzoki: Political activist

Libyan funds are present inside Libya, inside the EU and we're currently demanding to have it back. And they say that they are not able to give us back that money.

Fakhery al-fiky: Economic expert

Will Libya be able to restore its funds from the outside world in general?

I think that this file is a problematic one, a very tough case.

Hugh miles: Journalist on Middle East affairs

The money of people in Libya type western countries I have responsibility to return to Libya and take time to do that.

   

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