News In Brief
Incarceration of Libyan Foreign Bank manager extended
The Public Prosecution has extended the imprisonment of the Director of the Libyan Foreign Bank, Mohamed Bin Yusuf on charges relating to corruption and the misuse of public funds.
Al-Sharq Al-Awsat Newspaper quoted a source within the Public Prosecution as saying that large-scale arrests of additional officials within the coming days was likely, following the end of an ongoing investigation into charges related to the extensive plundering of public funds, which has been continuing for many years.
The source confirmed to Al-Sharq Al-Awsat that a tracking operation, chasing influential Libyan figures, currently residing outside of the country, is ongoing due to their involvement in the Libyan Foreign Bank case, which relates to the squandering of more than 500 million dollars in unidentified alleged investments.