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LAFICO acting head arrested by Attorney General for corruption

The Attorney General’s Office announced yesterday that it had detained the acting head of the Libyan Foreign Investment Company (LAFICO) on charges of corruption. It did not name him.

The charges included abusing the powers of his position for the purpose of achieving benefit for others, and providing a helping hand to others when they collected sums of money in violation of the laws and regulations, and causing serious harm to public funds and interest, causing damage to public funds as a result of his breach of the duty to collect the value of loans, one of which amounted to two hundred million Egyptian pounds, and the value of the other amounted to five million US dollars.

A continuation of a trend

The detention continues a series of detentions against corruption implemented by the Attorney General Sideeg Al-Sour over the last year or so after he was approved in his role by the House of Representatives back April 2021.

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