EFTA01858441

To: Jeffrey E tein 'eevacation mail.com] Cc: F Noah From: Gregory Brown Sent: Sat 8/27/2011 8,09,15 PM Subject: Libya lost funds Jeffrey FYI see below Some $2.9bn (17.8bn) is missing from the accounts of the Libyan sovereign wealth fluid, the official tasked with tracking down Libya's foreign investments has told the BBC. Mahmoud Badi said investigations had found "misappropriation, misuse and misconduct of funds" at the Libyan Investment Authority (MA). The LIA has total fi nds worth about $70bn. It was set up in 2006 by Satfal-Islam, one of Muammar Gaddafi's sons. LIA has overseas investments such as stakes in the Italian bank UniCredit, Italian football club Juvenftis and Pearson, the owner of the Financial Times. Mr Badi was formerly a senior civil servant in the Gaddafi regime. He is understood to have been appointed to the MA on an interim basis by Ali Tarhouni, who is the minister in charge of financial and oil affairs for the rebel National Transitional Council. "We are going to dig for the truth, we need the help of expert people, we will use expert people," said Mr Badi, speaking to the BBC at LIA's offices in London. "We will use all available means, we will contact all respectable institutions who were attached to these funds. Gregory Brown Chairman & CEO GlobalCast Partners. 1.I.0 US: Tel: Fax: Sk)1 EFTA_R1_00258982 EFTA01858441