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Home » Ex-CEO of LPTIC: I was arrested by Dbeibeh for rejecting $47M deal

Ex-CEO of LPTIC: I was arrested by Dbeibeh for rejecting $47M deal

Sunday, April 17, 2022 Economy 2 Mins Read
Ex-CEO of LPTIC: I was arrested by Dbeibeh for rejecting $47M deal

Prime Minister Abdul Hamid Dbeibeh had allegedly ordered the arrest of Faisel Gergab, former CEO of the Libyan Post Telecommunications and Information Technology Company (LPTIC), after the latter refused to award a multi-million project deal to a specific company owned by the premier’s family.

Released last March after nearly three months of detention in Tripoli, Gergab spoke in a televised interview on Tabadul channel last night, during which he claimed that he was pressured by Dbeibeh, and a family relative of the premier, to award a telecommunication enhancement project to an underdeveloped company called Lathroun.

When Gergab refused to follow through with Dbeibeh’s request, the latter sacked him and ordered his arrest last January, alleged the former LPTIC manager.

“[The prime minister] called me personally and asked me to contractually work with Lathroun to enhance telecommunications in housing project,” Gergab said.

“The company [Lathroun] had neither capital nor technical capacity, and made a demand for 47 million dollars,” he added.

The former CEO pointed out that mobile phone company Almadar Aljadid, which is a subsidiary of LPTIC, could have implemented the project for a significantly lesser cost of 900 thousand dollars.

Gergab disclosed that Lathroun is owned by Dbeibeh’s son, which is why the premier was pushing for a lucrative deal with this particular company.

Gergab also revealed the dispute over Lathroun is the reason why he was kicked out of LPTIC leadership by Dbeibeh in October last year, and then arrested earlier this year.

“I was arrested because I said no to this matter,” Gergab explained. “Lathroun was the last straw”.

Founded in 2005, LPTIC is a state-owned company with a reported net asset value of 17 billion Libyan dinars ($3 billion). It is the second largest company in Libya after the National Oil Corporation (NOC).

Gergab had served as the company’s board chairman since 2013.

Ex-CEO of LPTIC arrested in Tripoli

Abdul Hamid Dbeibeh Faisel Gergab Libya LPTIC
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