Libya denies Gaddafi has own cash in Swiss banks

May 4, 2011 02:54


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TRIPOLI - Libya said on Tuesday that Muammar Gaddafi had no personal money in Swiss bank accounts and that any cash held in the Alpine country belonged to the government's foreign investment arm.

Switzerland said on Monday it had found 360 million Swiss francs ($418.4 million) of potentially illegal assets linked to Gaddafi and his circle in Swiss banks.

Libyan Deputy Foreign Minister Khaled Kaim said that Libyan government entities had closer to 25 million Swiss francs in bank accounts in Switzerland.

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