Libyan Authorities May Have Found a Billion's Worth of Qaddafi's Looted Wealth in South African Banks

Only a fraction of the hundred billion the former Libyan strongman is believed to have amassed


More than a billion dollars in cash, gold and diamonds believed looted by late Libyan strongman Muammar Qaddafi during his 40-year reign may have been found socked away in South Africa—just a fraction of the wealth the dead dictator is suspected of stealing.

Libyan investigators, who believe Qaddafi may have taken as much as $100 billion of his North African nation's wealth, have zeroed in on $1 billion or more being held by four banks and two security companies in South Africa, according to The Sunday Times of South Africa.