03.06.2011 - 09:52 [ The Guardian ]

Goldman Sachs lost 98% of Gaddafis $1.3bn investment

(31.05.) According to an investigation by the Wall Street Journal, Goldman offered to make Gaddafi one of its biggest investors as compensation for losing 98% of the money the Wall Street firm invested on behalf of the Libyan Investment Authority (LIA). This left the $53bn Gaddifi-controlled sovereign wealth fund, which elsewhere has stakes in companies such as Financial Times-owner Pearson and BP, with just $25.1m of the money it entrusted to Goldman.