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Lawsuit targets Libyan sovereign wealth funds...
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FINCEN
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Joined: 08 Mar 2006
Posts: 1341

PostPosted: Fri Nov 18, 2011 4:40 pm    Post subject: Lawsuit targets Libyan sovereign wealth funds... Reply with quote

Israeli banking magnates Sammy Ofer and Shari Arison are joining a Bahraini concern owned by the Libyan central bank and the sovereign wealth funds of Abu Dhabi and Kuwait in a lawsuit targeting West LB, a German state-owned bank. Bank Hapoalim 'owned by Arison' and Mizrahi Tefahot Bank 'owned by Ofer' along with Arab Bank Corp., sued Westdeutsche Landesbank earlier this month in New York state court claiming a $230 million loss caused by the collapse of two WestLB structured investment vehicles. The vehicle in question used short term loans with low interest rates to finance purchases of long-term mortgage bonds carrying higher rates. The Arab and Israeli banks were joined by the Anglo Irish bank in purchasing the longer term notes from SIV, a unit of Westdeutsche Landesbank. The investment served the purpose of providing equity-type financing on the expectation of large returns.

SIV later restructured the terms of both the short and long term deals after Westdeutsche Landesbank provided funding facilities that permitted senior debt holders to redeem their notes in 2007. Two months later, the subordinate debt held by the Israeli, Arab and Irish financial institutions were all but worthless as a result of the company cash drain. SIV stands accused of selling assets at "commercially unreasonable prices" with allowing the investors to directly repurchase the assets while they still had value. The lawsuit is an extremely unusual move as Libya nor Bahrain have established diplomatic ties with Israel. It is also a relationship unique and sensitive as Kuwaiti law contains an applied ban on business dealings with Israel. Kuwaiti officials recently proposed a stiffening of measures which would impose a 10 year jail term for any violating the law.
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beemoe
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Joined: 07 May 2006
Posts: 839

PostPosted: Thu Nov 24, 2011 4:47 pm    Post subject: Beemoe Reply with quote

Does this have anything to do with finding Qaddafi`s laundered funds? Which are maybe in the tens of billions. I see a huge fight here. Man, Jiggy imagine the financial architcture behind a laundering scheme of this size. I see a lot of black eyes when it gets disclosed all the perps who helped Qaddafi launder all of this. I think you`re on to something here MIB!
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FINCEN
Administrative Assassin


Joined: 08 Mar 2006
Posts: 1341

PostPosted: Fri Nov 25, 2011 12:59 am    Post subject: One door closes... 3 more open... Reply with quote

More than discovering the location of the funds, this is about covering the tracks of those who aided and abetted in the creation of the sovereign wealth fund accounts and there continuing movement. What we are witnessing is a very open and dirty fight between the old and the new. It is very interesting indeed. Old alliances are being betrayed in favor of new opportunistic pairings. The question is how long will they last and in what dynamic way can we expect their breakup to effect the balance of power.
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beemoe
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Joined: 07 May 2006
Posts: 839

PostPosted: Thu Jul 10, 2014 11:49 pm    Post subject: Mad Dog The Secret World of Muammar Gaddafi Reply with quote

Have you seen this Showtime documentary? What`s really interesting about this is how the so-called democratically elected leaders of the world broke their necks propping Gaddafi up to get to his oil.

More later.
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beemoe
Commission Member


Joined: 07 May 2006
Posts: 839

PostPosted: Fri Jul 11, 2014 2:03 am    Post subject: Mad Dog The Secret World of Muammar Gaddafi link Reply with quote

http://www.sho.com/sho/reality-docs/titles/3400168/mad-dog-inside-the-secret-world-of-muammar-gaddafi#/index

Why do I think that this is how "real" geopolitics works.

It`s fascinating that as a head of a government this dude was bigger and more deadlier that most of the criminals that we study.
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