Gaddafi's £3bn British cash transfer: How dictator is secretly moving money out of Libya

[Turborama]

Source: Daily Mail

Last updated at 11:30 AM on 26th February 2011

Colonel Gaddafi secretly deposited £3bn with a London-based private wealth manager, it emerged today.

As rebels began their uprising in Eastern Libya last week, a Swiss intermediary working for the dictator brokered a deal to transfer the funds from the oil-rich nation.

But a similar attempt five weeks ago was rebuffed when senior staff at a separate City stockbroking firm learned of the source of the money, The Times reported.

The firm chief executive told The Times: I said no, because personally I'm not comfortable dealing with murdering dictators with blood on their hands.'

Read more: http://www.dailymail.co.uk/news/article-1360850/Gaddafis-3bn-British-cash-transfer-How-dictator-secretly-moving-money-Libya.html?ito=feeds-newsxml

[timo]

1. well????

I guess its really not much of a secret anymore is it??

[hobbit709]

2. A banker with ethics-now that's a rarity.

Evidently the second guy didn't mind getting his hands dirty.

[CanonRay]

4. Well how many bankers with ethics do you think there are, anyway?

Like two? No way.

[dipsydoodle]

3. When this was reported here last night

on TV news it sounded as though it was literally £3 billion in readies in a safe deposit box.

[naaman fletcher]

5. It's obviously not a secret. nt.

[muriel_volestrangler]

6. What pisses me off is that it seems easier for a Swiss banker or Libyan dictator to open an account

than it is for a British citizen:

Lawyers told The Times that the Mayfair money manager would not have had to apply to the Financial Services Authority, the City watchdog, for clearance under anti-money laundering regulations.

They explained that when information on deposits of this size is filed with regulators, the Swiss intermediary - not Colonel Gaddafi - would have been registered as the client.

http://www.theaustralian.com.au/news/world/colonel-gaddafis-family-wealth-takes-shelter-in-london/story-e6frg6so-1226012374848

A few months ago, a major British bank tried to tell me that I, a British citizen, could not be a signatory on a joint account because my photo ID, a British passport, had less than 6 months before it expired. They told me that, since my valid driving licence does not have a photo on it (since I haven't moved house in several years, and they used not to have photos), they would not accept me as a customer. I had to go away, collect evidence from the internet that they never warn anyone about this, and return to them the next day, where they eventually decided to 'use their discretion' and allow it. But Gaddafi's money man, who is not even an EU citizen himself, let alone the dictator he's a front for, can open an account that is transparently for money-laundering of billions, and they don't have to do a fucking thing.

[dixiegrrrrl]

11. Message is pretty clear, isn't it?

[classysassy]

7. Bush/Chaney stole money

from the Iraqis ,not a word from the UN or the western papers,double standards again and we wonder why the Arab/Muslim countries hate our leaders.

[ellenrr]

8. Qaddafi deposits £3bn in London

Source: Press TV

Libyan despot, Muammer Qaddafi has secretly deposited £3 billion with one of Mayfair's private wealth managers in a bid to protect his family's fortunes. A Swiss-based intermediary brokered the deal on his behalf last week.

The intermediary had previously approached another well-known City stockbroking firm five weeks ago with a view to depositing funds.

However, when that stockbroker discovered the ultimate identity of the source of the funds, it advised the intermediary to take his business elsewhere.

“I said no, because personally I'm not comfortable dealing with murdering tyrants with blood on their hands”, the chief executive of the firm told The Times.



Read more: http://www.presstv.ir/detail/167282.html

[Auntie Bush]

9. Wow! An honest banker...what next?

Too bad he didn't accept the money and turn it over to the world bank. lol

[Ikonoklast]

10. Also, because he might become a target for investigation.

The EU is aggressively locking down all Libyan assets, and all Qaddafi family assets.

[FLPanhandle]

12. I guess he's not planning to die there afterall

You don't transfer cash out if you aren't planning on following it.