Bankers jailed for 11 years for defrauding Libyan Africa Investment fund

Main entrance of the Royal Courts of Justice on the Strand, London where the Aquind judicial review will take place Picture: Marco Rubino, Adobe

A former JPMorgan investment manager and an ex-Julius Baer banker were sentenced to a total of 11 years by a London court for stealing millions of dollars from the Libyan Africa Investment Portfolio (LAIP).

According to an inside source of LAIP, Frederic Marino, 56, and Yoshiki Ohmura, 47, were sentenced in their absence at London’s Southwark Crown Court for one count of conspiracy to commit fraud by abuse of a position of trust in relation to the Libya Africa Investment Portfolio (LAIP).

Judge Tony Baumgartner said that Marino – as Chief Executive Officer of FM Capital Partners (FMCP), which prosecutors said managed around $800 million for the LAIP – had “targeted the collective wealth of the Libyan people”, the report added.

The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to Please include ‘Op-Ed’ in the subject line.
You might also like

Submit a Correction

For: Bankers jailed for 11 years for defrauding Libyan Africa Investment fund

Your suggestion have been successfully submitted

There was an error while trying to send your request. Please try again.

Libyan Express will use the information you provide on this form to be in touch with you and to provide updates and marketing.