The Public Prosecution has ordered the pretrial detention of a former chairman of the board of Libyana Mobile Phone, in connection with investigations into financial transfers for purposes outside the company’s specified activities.
The detention order was issued after the Deputy Prosecutor at the Attorney General’s Office investigated the transfer of 17 million euros from the company’s account in an Italian bank to an account of a company owned by the parent company, then to an account of a company registered in the Swiss Confederation, before the amount was used to purchase shares in a weapons manufacturing company in the Federal Republic of Germany.
The investigation revealed that the officials responsible for the disbursement concealed the loan agreement from the executive departments and the supervisory board, without providing any risk-mitigating guarantees. They also intervened to push through the transfer of the amount to the Swiss company despite being aware of the consequences for the public interest.
Based on these findings, the investigator decided to place the accused in pretrial detention pending the investigation, and issued instructions to pursue the other individuals involved in the incident.
