"Libya's oil wealth has been siphoned out of the country by a powerful elite – including Gaddafi and his nine children
The Gaddafi family could have billions of dollars of funds hidden in secret bank accounts in Dubai, south-east Asia and the Persian Gulf, much of it likely to have come from Libya's vast oil revenues, according to analysis by leading Middle East experts.
Professor Tim Niblock, a specialist in Middle Eastern politics at the University of Exeter, has identified a gap of several billion dollars a year between the amount Libya makes from its oil reserves and government spending – a shortfall he expects has contributed greatly to the wealth ofMuammar Gaddafi and his nine children."
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