"One can estimate the total foreign investments exceed $150 billion or $170 billion, if it's not even more than that," said Badi. He emphasized that he was responsible for auditing government expenditure and investments only from 1994 to 1997, but said he has closely followed the ballooning investments by keeping contact with those who followed him in the job. ...
"In addition, and this is not a secret, there are a lot of (bank) accounts and under a lot of names of responsible persons. It's very easy, with the Internet, to move money from account to account, one name to another. Some are in secret accounts in banks that are not willing to show these investments if they are not forced to," Badi said, adding this may make it impossible to recover some funds.
He said he was certain the money frozen by the United States and European nations — in excess of $60 billion — is "in safe hands." But for the rest — he threw up his hands to display his skepticism.
I don't think Khaddafi will have a problem paying mercenaries or importing crucial supplies--even if he isn't managing to sell oil on the black market.
Nor do I think we should bet on European finances being superior to Khaddafi's. Who really can afford to fight longer?
