The Belgian judiciary issued an international arrest warrant against the Chairman of the Libyan Investment Authority (LIA), Ali Mahmoud, on charges of corruption and embezzlement.
According to the Belgian magazine "De Tijd", the arrest warrant issued against Ali Mahmoud aimed to investigate lost interest on the LIA's billions at Euroclear for several years.
The Belgian government released interests worth 15 billion euros, which were later transferred to foreign accounts in London and Bahrain, the magazine said, indicating that the international arrest warrant issued against Mahmoud will be worrying for him, as he will be arrested at any time he leaves Libya and handed over to Belgium.
According to the magazine, Ali Mahmoud will be a source of concern for the Belgian Euroclear Bank, if corruption charges are proven, because the bank and its shareholders, including the Belgian government, will be liable.
De Tijd also indicated that the United Nations Sanctions Committee ordered in 2011 to freeze most of the funds of the Libyan Investment Authority, including those in the Belgian clearing house, also known as, Euroclear Bank.
