The Address | Benghazi – Libya
MALTA – Report of UN Panel of Experts confirmed the existence of frozen assets belonging to Mutassim Gaddafi, son of former dictator Muammar Gaddafi. The panel has previously reported major transfers of money from Moncada International Ltd in Malta, which is suspected to be just a front company for Mutassim Gaddafi.
The report also revealed that, at the request of UN experts, the Maltese authorities provided details of these assets. Large amounts were transferred from the Moncada account at the Valletta Bank in 2011. These transfers were issued on behalf of the manager of Moncada Mustafa Ali Al-twijri, and were made outside of Malta at an unknown location.
In addition, € 5.6 billion was transferred to the Al-twijri account in July 2011 and later other amounts were transferred from Al-twijri accounts to the account of Iyad Ramadan Ajal, also the Valletta Bank.
The report noted that the Maltese authorities informed the Panel that they had tracked the funds transferred from the Moncada account between 26 February and 14 July 2011. Of these funds, 3 million euros and 3 million dollars had been frozen.
Malta is working in the framework of mutual judicial cooperation with the Libyan authorities to assess whether these funds were embezzled from Libya.