Recently released documents by the US Department of Justice revealed that one of the close associates of the late American financier, convicted in criminal cases, Jeffrey Epstein had devised plans to seek access to Libya’s frozen sovereign assets, citing financial and legal opportunities linked to the political and economic uncertainty in Libya at the time.
It is also believed that around $80 billion of Libyan funds are frozen internationally, including approximately $32.4 billion in the United States. The true figure is estimated to be between three to four times that amount when accounting for sovereign assets, as well as stolen and embezzled funds.
The documents stated: “If we are able to identify or recover between 5% and 10% of these funds, and obtain compensation ranging from 10% to 25%, we are talking about billions of dollars.”
The documents further indicated that a number of former members of the British Secret Intelligence Service (MI6) and Israel’s foreign intelligence service (Mossad) had expressed readiness to assist in efforts to identify and recover what were described as “stolen assets.”
They also pointed to expectations that Libya will need to spend no less than $100 billion in the future on reconstruction and economic recovery.
However, the real incentive, according to the message, is that “if we manage to become the go-to party they always turn to, it is because they are planning to spend at least $100 billion over the coming year to rebuild their country and restart the economy.”
The message also described Libya as a country with large energy reserves and high education levels—factors the sender viewed as elements that could be leveraged in financial and legal initiatives and activities.
