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Libya conned of $4m in Zimbabwean deal
[The Nation (Nairobi)] The Libyan government was conned of $4 million (Sh320) by a Zimbabwean national who was overseeing its investments in the southern African country. The case now before a Harare magistrate is set to expose Libyan leader Muammar Gaddafi's shadowy investments in Zimbabwe. Gaddafi has been rumoured to have strong business links with President Robert Mugabe and his family. In 2002, Mugabe's eccentric wife Grace was said to have sold a mansion in of one of Harare's plush suburbs to Gaddafi for $5 million. The mansion known as Gracelands had been built using funds meant for poor civil servants. The latest controversy surrounds a former employee of Zimbabwe's state broadcaster who was left in charge of businesses belonging to the Libyan government two years ago. According to the state, sometime in 1999 the Libyan government invested in Zimbabwe's transport and property sectors. Tripoli registered a company known as Crieff Investments, which later changed to Aldawlia Investments. It bought 12 haulage trucks and properties, which included 10 flats in Harare. In 2008, Stanely Masendo, a Zimbabwean national was left to manage the company after Libya's representative fell ill. Mr Masendo allegedly forged documents to collect income from the company and the offence was discovered early this year. Harare and Tripoli have in the past tried to enter into joint business deals involving the importation of fuel to the landlocked Zimbabwe. However, most of the deals have fallen through because Zimbabwe did not have enough money to meet its part of the bargain. Posted by: Fred 2010-08-05 |
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