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Independent: Lawyers Representing Libyan Government Demand France Pay €10 Million in Compensation – Here Are the Details

Written by Amira Cherni on . Posted in News. No Comments on Independent: Lawyers Representing Libyan Government Demand France Pay €10 Million in Compensation – Here Are the Details

Independent Arabia has revealed that the French Financial Prosecutor’s Office began its pleadings today, Tuesday, which will continue until Thursday evening, against former French President Nicolas Sarkozy and other defendants, including three former ministers, in the case of suspected Libyan funding for his 2007 election campaign.

According to the newspaper, the case dates back to late 2005 when Sarkozy was Minister of the Interior. He and 11 others are accused of making a corrupt agreement with Libyan President Muammar Gaddafi to fund his campaign to reach the Élysée Palace.

The report noted that since the trial began on January 6, the prosecution must systematically clarify its perspective on this complex case and will determine the requested penalty next Thursday.

The newspaper explained that Sarkozy faces a sentence of 10 years in prison and a fine of €375,000 ($405,700), in addition to being stripped of his civil rights, making him ineligible to run for office for up to five years.

The report added that this morning, lawyers representing the Libyan state demanded that the defendants be fined and ordered to pay €10 million ($10.8 million) in compensation.

Lawyer Marion Seran argued that the damages far exceed this amount, stating that “integrity is a cornerstone of democracy, and undermining it in a country still in the process of rebuilding poses a particular risk.”

Sarkozy has denied receiving any illicit funds from Libya or any other source and will be present throughout the three-day hearings.

The former president added, “I have the impression that we started from the premise that Sarkozy is guilty, and that the ‘case’ is no longer about seeking the truth but about the financial prosecutor’s office saving face.”

According to the newspaper, Sarkozy currently wears an electronic ankle bracelet to monitor his movements following his conviction for corruption and influence peddling, for which he was sentenced to one year in prison in a wiretapping case last December.

Exclusive: Dbeibeh Issues Decision to Establish a Fund for Supporting and Guaranteeing Financing for Startup Innovation Companies

Written by Amira Cherni on . Posted in News. No Comments on Exclusive: Dbeibeh Issues Decision to Establish a Fund for Supporting and Guaranteeing Financing for Startup Innovation Companies

Our source has exclusively obtained the decision of the Prime Minister of the Government of National Unity, Abdul Hamid Dbeibeh, to establish a fund for supporting and guaranteeing financing for startup innovation companies.

The National Council for Economic Development will oversee the fund’s programs and advisory services, which include monitoring and evaluating the effectiveness of policies, programs, and initiatives supporting startups in Libya, as well as providing studies and technical consultations to develop startups within the national economy.

Exclusive: Jihad Fund Source to Sada – Unauthorized Transfer of Jihad Tax Funds Without Saleh Al-Fakhri’s Approval is Illegal

Written by Amira Cherni on . Posted in News. No Comments on Exclusive: Jihad Fund Source to Sada – Unauthorized Transfer of Jihad Tax Funds Without Saleh Al-Fakhri’s Approval is Illegal

A source from the Jihad Fund at the World Islamic Call Society told our source that they have officially notified the Ministry of Finance in Tripoli and the Head of the Tax Authority that transferring any funds from the deductions of the Jihad Tax to any entity without the approval of the legal representative, Saleh Al-Fakhri, would subject them to legal accountability.

The source added that they have requested the Ministry of Finance and the Tax Authority to provide a clear statement regarding the amounts held since 2014 that have not been transferred to the Jihad Fund’s accounts, as stipulated by the applicable legislation.

Furthermore, the source confirmed that they have informed the Speaker of the House of Representatives about recent developments and the potential consequences of the government’s decision to allocate approximately half a billion dinars from the Jihad Fund’s special deposits to the Hajj and Umrah Affairs Authority.

The source emphasized that all banks exclusively recognize the legal representative of the society and the Jihad Fund, who has been officially designated by the Presidency of the House of Representatives as the sole authorized signatory for the fund’s and the society’s accounts.

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Exclusive: Al-Harchaoui: For Libyan Funds to Be Repaid by France, a Judicial Decision is Required… Saif Gaddafi is Not a Judge

Written by Amira Cherni on . Posted in News. No Comments on Exclusive: Al-Harchaoui: For Libyan Funds to Be Repaid by France, a Judicial Decision is Required… Saif Gaddafi is Not a Judge

Libyan affairs expert at the Royal United Services Institute, Jalal Al-Harchaoui, told our source on Sunday that regarding the issue of funding the 2007 French presidential election campaign, Sarkozy has not yet been convicted, as the trial only began two days ago.

Al-Harchaoui confirmed to our source that for the Libyan funds to be returned from France, as Saif al-Islam Gaddafi had claimed in a media appearance, the French authorities must comply with his request to return the election campaign funds. However, for this to be executed, a judicial decision is necessary, and Saif al-Islam Gaddafi is not a judge, according to his statement.