The Search For The Wealth Of Fallen Arab Dictators Is Now Facing Obstacles

Obstacles Mar Quest For Arab Dictators’ Assets -- New York Times

TRIPOLI, Libya — Soon after the revolt against Col. Muammar el-Qaddafi began in Libya last year, foreign banks and governments began freezing billions of dollars in assets held by his family and government, just as they had frozen accounts of the toppled governments in Tunisia and Egypt.

But the dictators and their inner circles had spent decades amassing and hiding vast fortunes, and much of the wealth was not easy to find. Libyan investigators say they have identified tens of billions of dollars in Swiss banks alone that was never frozen — all of it skimmed from Libya’s vast oil wealth and disguised under innocuous names. In Tunisia and Egypt, the new governments are pursuing foreign real estate, yachts and bank accounts that are also said to be worth billions.

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My Comment: I assume that much of this wealth will ultimately be retrieved ... but it is probably going to take a long time.