The Belgian judiciary wants the chairman of Libya’s sovereign wealth fund arrested on charges of corruption and embezzlement, Belgian magazine De Tijd reported.
Ali Mahmoud, who chairs the Libyan Investment Authority (LIA), is subject to an international arrest warrant and could be arrested if he leaves Libya and the warrant aimed at investigating lost interest on the LIA’s billions at Euroclear for several years.
According to the Belgian magazine, Mahmoud will be a source of concern for the Belgian Euroclear Bank, if corruption charges are proven, because the bank and its shareholders, including the Belgian government, will be liable. The Belgian government also, according to the magazine, released interests worth 15 billion euros, which were later transferred to foreign accounts in London and Bahrain.