Gadafy stashed $1 billion in cash, gold and diamonds in South Africa, claims Libya

South African authorities agree to examine claims about hidden assets


South Africa’s treasury is looking into Libyan assertions that slain leader Muammar Gaddafi and his family stashed money and other assets in the country, a spokesman confirmed today.

“There was a group that approached treasury claiming to represent the Libyan government and we are in the process of verifying their claims about assets that are in South Africa, ” finance minister Pravin Gordhan’s spokesman Jabulani Sikhakhane said.

The Sunday Times newspaper said Libyan investigators had met Mr Gordhan and president Jacob Zuma to discuss locating and repatriating more than $1 billion in cash, gold and diamonds said to have been brought into South Africa by the family of Gadafy, who was ousted and killed during a revolt in 2011.

The Gadafy assets were held by four banks and security companies in South Africa, the Sunday Times said.