LIBYA LATEST

Gaddafi's hidden billions in Sweden

3:32 min

Libyan leader Col Muammar Gaddafi has invested a part of his vast fortune in Sweden. Dagens Nyheter newspaper writes that Gaddafi has over 10 billion kronor (1.5 billion dollars) of frozen assets in Sweden.  

Since the 10th of March the EU froze all assets of Muammar Gaddafi and some members of his family. Recently it extended its economic sanctions against Libya to include the country's sovereign wealth fund and central bank and also the Libyan Investment Authority (LIA) wealth fund which holds billions of dollars and has stakes in a number of European companies.

DN writes that the frozen assets have been reported to the Financial Inspectorate. It has not been revelealed where the money has been invested in.

"What they are and what types of assets we cannot comment ," Jonatan Holst , head of press at the FI told the paper.

Libya has gold reserves worth six billion US dollars.  

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