A Maltese civil court has announced continuing hearing a case lodged by Libya to recover funds held by Mutassim Gaddafi, fourth son of diseased dictator Muammar Gaddafi, in a Maltese-registered company.
Times of Malta newspaper reported that the case was lodged by the lawyer, Shaheryer Ghaznavi, on behalf of the Libyan state in 2012 against curators representing the unknown heirs of one of the sons of the Gaddafi and Capital Resources Ltd - the company of which Mutassim Gaddafi was sole shareholder, Director and company secretary.
The newspaper also added on Tuesday that after Mutassim's death in 2011 during the February revolution, various credit cards issued by Bank of Valletta (BOV. Ltd) had been found in his possession.
"The company recreated five accounts of Capital Resources Ltd which had since ceased operations. One was a sterling account with a balance exceeding £3 million, a second was a US dollar account with a balance of almost $39 million and the other three euro accounts totaled a balance exceeding €56 million." Times of Malta reported.
Mutassim Gaddafi deposited Libyan assets in Malta under the cover of Capital Resources Ltd, the Libyan state's case argues.
