Tripoli, – The Libyan Investment Authority (LIA) welcomed the British court’s ruling on Monday to imprison former directors of FM Capital in Britain on charges of fraud and seizure of $ 14 million of the company’s assets.
The authority said in a statement on Tuesday that the verdict was issued on Monday and sentenced to 7 years and 6 months in prison former director of the company, 3 years and 6 months for the first partner, and 15 months with suspension of enforcement for the second partner.
The background to this case dates back to 2014 after the authority filed a lawsuit against the defendants and the Libyan company “FM Capital” and the Libyan Africa portfolio filed a lawsuit against the former director of the company and several other parties before the English Commercial Court for financial losses and damages resulting from the breach of legal duties.
Source: Libyan News Agency