On 20 February, the Evening Standard reported that 2 fund managers have been jailed for a total of 11 years after committing a large-scale fraud amounting to more than $10 million which resulted in the loss of money meant for the people of Libya. A third man pleaded guilty to the same charge before the trial and was spared jail. He was given a 15-month prison sentence suspended for 2 years. The defendants had abused their various positions by committing fraud whilst managing the Libya Africa Investment Portfolio (LAP), a sovereign wealth fund established by the Libyan government for its people amounting to around $800 million.
https://www.cps.gov.uk/cps/news/update-three-city-workers-sentenced-845m-hedge-and-wealth-fund-fraud
https://www.aol.co.uk/money/finance-managers-jailed-defrauding-libyan-162900455.html
https://www.buymeacoffee.com/KoIvM842y
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