UK foils £900m transfer to Libya

2011-03-01 09:01

London - Britain on Monday announced that it had foiled a plan by Libyan leader Muammar Gaddafi to move mint Libyan banknotes worth £900m out of Britain.

"The Chancellor of the Exchequer (finance minister) intervened to block the departure of £900m in notes destined for Libya," British Prime Minister David Cameron said.

It emerged on Sunday that there was an attempt made to transfer £900m of uncirculated banknotes from a British secure storage facility to Libya.

The request, which was reported by the facility, was legal at the time, prompting the British treasury to use stalling methods to prevent the money leaving the country and possibly into the hands of Gaddafi's mercenaries.

Libyan authorities were first told there was no aircraft ready, and when they offered to send their own, were told to land at an airfield in Kent, south east England, despite the money being stored in the country's north east.

The British government on Sunday announced it was freezing Libya's British-held assets and the money was impounded before it could leave the country.

  • lmduplessis - 2011-03-01 09:09

    Good. Another substansial wad of cash that can't be used to kill his own ppl.

  • AJ - 2011-03-01 09:22

    Why the deception required though if an asset freeze is on? Just say F U!

      lmduplessis - 2011-03-01 09:36

      The deception was needed BEFORE the asset forfiture became official. This was prob during the weeks before the Sanctions, when protests were still widespread.

      AJ - 2011-03-01 11:04

      @lmduplessis - gotcha!

  • Helifiknow - 2011-03-01 10:01

    Lets make a movie of how some one steals that £900m ..... not that its tempting or anything :) where did they say its being stored?

  • Serias - 2011-03-01 10:01

    Good stuff, brilliantly done. Let him starve like his people.

  • Johan - 2011-03-01 10:15

    well done !! Please repeat the brilliant work when Bob Mugabe go on his next spending sprea at Haroids of London

      Ross - 2011-03-01 11:24

      Bob is banned from England. He sends his agents to Harrods with a shopping list.

      HuletSugar - 2011-03-01 12:12

      Bob Ugh-gabe goes East for his expensive little shopping trips...pity that

  • Biker Mouse - 2011-03-01 11:30

    Why was the UK willing to look after it in the first? Because they are just as bloody corrupt as Gadhafi!

      Old dog - 2011-03-01 14:35

      probably the British just print the bank notes

      slg - 2011-03-06 05:37

      This is a ridiculous statement. So the British Government is going to spend the money?

  • Sisie - 2011-03-01 14:33

    It's called money.A person with a substantial cardboard box filled with cash, walking into a bank saying we would like to store this here - you know of any bank that is going to "No" - they don't give a rats ar*e who that person is. What i love is the irony - these African dictators/fat cats/leaders if you want to call them that - who don't have anything nice to say about the West, but oh boy they really do want to store their cash there, and on top of that when they have to go into exile that is where they want to go. For heavens sake go into exile to China.

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