Malta-based company locates Gaddafi’s $1 billion in South Africa

Libyan investigators on the hunt for Gaddafi’s money believe they have found evidence that the North African dictator stashed $1 billion in cash, gold and diamonds in four South African banks and two security companies – and that his bagman Bashir Saleh holds the key to finding the loot.

Libyan authorities have been asked for a formal request for Saleh’s arrest and extradition from South Africa after the Sunday Times of Johannesburg revealed that he had been seen several times in Johannesburg recently.

Last year, Interpol issued a red notice against Saleh, also known as Bashir al-Shrkawi, because he is wanted in Libya for embezzlement.

The Sunday Times revealed that the investigators, from Malta-based company Sam Serj, had met Zuma twice to discuss finding the funds.

An earlier letter, sent to the African National Congress on December 7 and written by Sam Serj’s general manager, Taha Buishi, asks Zuma to set up a presidential task team and a bilateral committee to find and repatriate the funds. It also wants support for a proposed $3-billion joint venture and a $270-million arms deal.

“There is also a signed contract between a Libyan company and the Libyan Ministry of Defence to the value of $270-million for the supply of military equipment,” Buishi said. “This contract is on offer for South African companies to take part in.”

Buishi’s company has sought help from several South African investigators to find the loot, including a company that claimed to know “the whereabouts of a substantial portion of the hidden assets”.

and two security companies – and that his bagman Bashir Saleh holds the key to finding the loot.

Libyan authorities have been asked for a formal request for Saleh’s arrest and extradition from South Africa after the Sunday Times of Johannesburg revealed that he had been seen several times in Johannesburg recently.

Last year, Interpol issued a red notice against Saleh, also known as Bashir al-Shrkawi, because he is wanted in Libya for embezzlement.

The Sunday Times revealed that the investigators, from Malta-based company Sam Serj, had met Zuma twice to discuss finding the funds.

An earlier letter, sent to the African National Congress on December 7 and written by Sam Serj’s general manager, Taha Buishi, asks Zuma to set up a presidential task team and a bilateral committee to find and repatriate the funds. It also wants support for a proposed $3-billion joint venture and a $270-million arms deal.

“There is also a signed contract between a Libyan company and the Libyan Ministry of Defence to the value of $270-million for the supply of military equipment,” Buishi said. “This contract is on offer for South African companies to take part in.”

Buishi’s company has sought help from several South African investigators to find the loot, including a company that claimed to know “the whereabouts of a substantial portion of the hidden assets”.