The Public Prosecution has ordered the detention of the former General Manager of the Libyan Foreign Investment Company’s branch in the Republic of Mali pending investigation, following the discovery of damage to public funds resulting from the improper management of the Hotel Africa rehabilitation project.
An audit report from the Audit Bureau revealed that the former manager terminated a ten-million-euro contract with a contracting company and re-contracted with another in violation of approved regulations, disbursing 50% of the contract’s value without the work being completed.
It was also established that he borrowed 12 million euros from a bank, hired a company owned by his wife as a consultant, and spent the loan for purposes other than its intended use, which resulted in the hotel’s ownership being transferred to the lending bank.
Based on these violations, the investigator ordered the pre-trial detention of the accused and directed that the remaining suspects be pursued both nationally and internationally.
