Friday, February 25, 2011

Libya: Gaddafi's billions to be seized by Britain

Libya: Gaddafi's billions to be seized by Britain - Telegraph

The funds are expected to be seized within days. The Treasury is understood to have set up a unit to trace Col Gaddafi's assets in Britain, which are thought to include billions of dollars in bank accounts, commercial property and a £10 million mansion in London.

In total, the Libyan regime is said to have around £20 billion in liquid assets, mostly in London. These are expected to be frozen as part of an international effort to force the dictator from power.

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