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Libya Africa Investment Portfolio returns $16 million

Libya Africa Investment Portfolio announced that it has successfully recovered an amount of $16 million.

The fund stated, in a statement, that the Berlin court issued a ruling convicting the representative of Remax and his lawyer for committing a crime of defrauding the wallet’s funds in 2011, which resulted in the acquisition of 16 million US dollars, which were deposited with “Deutsche Bank” in Germany.

The statement added that the court sentenced the convict to four years in prison, in addition to the imprisonment of his lawyer for two years with suspension of enforcement.

The fund considered that this ruling came as a culmination of the efforts made by its work team over the past ten years, stressing its determination to fulfill its rights and recover them through legal means in order to protect it from anyone trying to exploit the instability that Libya has experienced.

It is noteworthy that the fund denied, earlier, through a statement, the news of the disappearance of a sum of money estimated at $26 million.

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