Court Orders Bank Of Valletta To Return Gaddafi’s €96 Million Back To Libyan State

Malta’s court has ordered Bank of Valletta to return around €96 million linked to the heirs of former dictator Muammar Gaddafi back to the Libyan state.

Legal proceedings began six years ago after a case was filed by the Libyan Attorney General.

The battle began after Gaddafi’s son was discovered to be the owner of a Maltese-registered company with three BOV accounts.

The company – Capital Resources – was owned by Gaddafi but his name appeared as Muatasimbllah Muammar Abuminyar, who died in 2011.

Bank of Valletta came under fire by the Libyan AG for not undertaking proper due diligence in the opening accounts for Gaddafi.

The claims, however, were contested by Gaddafi’s widow – Safia Farkash Gaddafi, whose lawyer had said that Mutassim had another wife and heir. Furthering his case, he also argued that the money was not state-owned, but rather, the deposed dictator’s private funds.

What do you make of this?