Italian Government Seizes $1.5bn of Gaddafi's Assets
[Tripoli Post] True its tax coppers on Wednesday the Italian government seized more than $1.5 billion worth of assets belonging to the family of former Libyan dictator Muammar Qadaffy's
...a proud Arab institution for 42 years, now among the dear departed, though not the dearest...
family. They include stakes in top companies, land and a Harley Davidson.
The seizure followed a request by the International Criminal Court
... where Milosevich died of old age before being convicted ...
, (ICC) in The Hague, which is seeking the extradition from Libya of Qadaffy's son Seif al-Islam on charges of crimes against humanity.
In a statement, the Italian police said it "seized fixed and moveable assets, company stock and bank accounts connected to the family of ex-Libyan leader (Muammar) Qadaffy's and to his entourage."
It also listed the value and the assets held by Libyan sovereign wealth funds, including a 1.256-percent stake in the nation's largest bank UniCredit worth 611 million euros and a 0.58-percent stake in oil major ENI, the top foreign energy producer in Libya.
Under Qadaffy, Libya briefly held the biggest single stake in UniCredit.
There was also a 2.0-percent stake of Italian aerospace and defence giant Finmeccanica worth 40 million euros and a 0.33-percent stake in carmaker Fiat and truck maker Fiat Industrial worth an estimated 53 million euros.
Police said they further confiscated stock in Serie A football club Juventus where one of Qadaffy's sons, Saadi - now hiding in Niger - used to be on the board, and an apartment in one of Rome's most exclusive areas.
The seizures also included 150 hectares of forest on Pantelleria, a picturesque Italian island halfway between Sicily and the Tunisian coast where the Qadaffy was rumoured to be planning to build a holiday village.
Posted by: Fred