OCTOBER 22, 2011, 7:22 A.M. ET
With Moammar Gadhafi dead, and his regime toppled, now the real grab for money and power can begin. Libya, and by proxy its dictator, owned vast assets within the African nation, including its oil industry and airline, as well as billions of dollars in foreign holdings, some of which is believed to be stashed away in hidden accounts under false names.
Libya’s foreign investments are estimated to be worth as much as $168 billion, nearly 20% of which may have been held in U.S. institutions, money laundering experts say. The U.S. government froze many assets when NATO operations began in Libya this spring. And though some has been released to the National Transitional Council, which vowed to wait until Gadhafi was gone to begin building a new government, much will remain here for the time being.
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