Belgium investigating lost Libyan frozen assets in its banks

BY Libyan Express Oct 29, 2018 - 22:10

Euroclear Bank in Belgium [Photo: Internet]

Prosecutors are investigating whether Belgian banks paid out interest and dividends on accounts frozen under U.N. sanctions in 2011 as the Libyan state under Muammar Gaddafi collapsed, public broadcaster RTBF said on Monday.

Prosecutors, the government and Belgian banks did not comment on the report, which cited an unidentified source.

RTBF said that up to 5 billion euros ($5.7 billion) could have been disbursed to people controlling Libyan accounts, including militia groups in the country accused of human rights abuses.

RTBF said that when the United Nations agreed to freeze deposits held by Gaddafi’s administration abroad, Belgium had done so but had not halted payments of interest and dividends.

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