WikiLeaks: Gadhafi Stashed $32 Billion in Cash in Foreign Accounts

Libyan leader Moammar Gadhafi has signed dozens of multibillion-dollar deals over the past decade with foreign firms eager to exploit his country's vast oil and natural gas reserves. So where has all that money gone? Not to ordinary Libyans, around one-third of whom are thought to live in poverty.

Instead, Gadhafi and his family appear to have been quietly siphoning off the country's riches and investing them abroad. According to a confidential cable penned last year by the U.S. ambassador to Libya, the regime's secretive sovereign wealth fund (an investment vehicle for Gadhafi and his cronies) has stashed at least $32 billion in cash in foreign financial firms -- with several U.S. banks each holding up to $500 million each.

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WikiLeaks: Gadhafi Stashed $32 Billion in Cash in Foreign Accounts