Unconfirmed press reports at the weekend claimed £3bn of Gaddafi family money was deposited with an unnamed London-based private wealth manager, through a Swiss intermediary
George Osborne has frozen the British-held assets of Muammer Gaddafi and five members of his family, as Treasury officials step up efforts to track down billions of pounds held in bank accounts and commercial property.
The UK chancellor’s decision followed a similar move in the US by President Barack Obama and a UN Security Council resolution to freeze the embattled Libyan leader’s assets.
Details also emerged on Sunday night of an audacious attempt made in the past week to move uncirculated Libyan banknotes worth £900m out of the UK.
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Known assets include a £10m home in Hampstead, north London, bought by Col Gaddafi’s son Saif, one of those whose assets have been frozen. Unconfirmed press reports at the weekend claimed £3bn of Gaddafi family money was deposited with an unnamed London-based private wealth manager, through a Swiss intermediary.
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