No Result
View All Result
Friday, October 17, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Libya Africa Portfolio wins supreme court final judgement in Germany to recover US$ 16 million

bySami Zaptia
May 24, 2022
Reading Time: 1 min read
A A
The Libyan African Investment Portfolio (LAP) participates in Brussels forum on Africa.

(LOGO: LAP).

Libya’s Ministry of Foreign Affairs and International Cooperation announced yesterday the recovery of a sum of US$ 16 million dollars of the funds belonging to the Libya Africa Investment Portfolio.

The Supreme Court of the Federal Republic of Germany had issued a final judgment in which it convicted the accused of stealing money illegally and sentenced them to prison terms ranging from two to four years. They must also return the US$ 16 million and pay the legal fees.

The money had been illegally invested with the Deutsche Bank in Frankfurt in 2011, taking advantage of Libya’s instability in 2011.

The LAIP/LAP is a wholly owned subsidiary of the Libyan Investment Authority (LIA).

RELATED POSTS

The Libya Africa Investment Portfolio successfully obtains compensation of over Euro 8 million

Libya Africa Investment Portfolio considering funding its Libya projects through Islamic bonds

Tags: DeutschebankGerman GermanyLAP LAIP Libya Africa Investment PortfolioLIA Libyan Investment Authority

Related Posts

CBL receives results from meetings with international banks
Business

CBL stats until end of September 2025: Libya has LD 8.4 billion surplus but US$ 6 billion deficit

October 17, 2025
Minister of Industry meets the Committee for Localisation of Oil Materials and Equipment Industry
Business

Minister of Industry discusses with Military Industrialization Organisation and private sector implementation of localisation of oil industries‎

October 17, 2025
Libya and Shell discuss several areas of cooperation
Business

Oil Minister Abdel Sadig participates in Houston’s Libyan-US Cooperation Dialogue on Strategic Sectors

October 17, 2025
Since reopening in June 2021, the Spanish embassy has been in full operation: Deputy Head of Mission Bordallo Sainz
Business

More than 65 Spanish companies attend business event on Libya in Madrid

October 17, 2025
CBL receives results from meetings with international banks
Business

CBL signs cooperation agreement with World Bank within Reserves Advisory and Management Programme (RAMP)

October 16, 2025
Business

“Enhancing the Interaction between Finance and Entrepreneurship” workshop held in Misrata

October 16, 2025
Next Post
The 7th Libyan Medical Science Conference to be held in Zawia from 11 to 13 October 2022

The 7th Libyan Medical Science Conference to be held in Zawia from 11 to 13 October 2022

Libya Health and Beauty Exhibition 2022 to be held from 17 to 20 September in Misrata

Libya Health and Beauty Exhibition 2022 to be held from 17 to 20 September in Misrata

libyaherald-Ads

Top Stories

  • Atletico Madrid win Benghazi’s Reconstruction Cup after beating Inter Milan 4-3 on penalties – great political showpiece for Hafter

    Atletico Madrid win Benghazi’s Reconstruction Cup after beating Inter Milan 4-3 on penalties – great political showpiece for Hafter

    0 shares
    Share 0 Tweet 0
  • Emirates Airlines security delegation visits Tripoli to begin Mitiga Airport inspection tour

    0 shares
    Share 0 Tweet 0
  • After its withdrawal from circulation of certain banknotes, CBL reveals that currency printed unofficially in Russia totalled to 6.5 billion dinars

    0 shares
    Share 0 Tweet 0
  • National Oil Corporation discusses prospects for technical cooperation with America’s Halliburton

    0 shares
    Share 0 Tweet 0
  • Economic Conference on Diversifying Sources of Income held in Tripoli

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

Committee for Localisation of Oil Field Equipment invites local and international investors to manufacture oil materials and equipment locally

CBL stats until end of September 2025: Libya has LD 8.4 billion surplus but US$ 6 billion deficit

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.