Goldman Halts Efforts to End $1B Libya Fund Lawsuit

The Goldman Sachs Group, Inc. (GS) stopped its attempt to dispose a $1billion lawsuit filed by the Libyan Investment Authority (:LIA), a sovereign wealth fund at London’s High Court.

SocGen Faces Bribery Claims in Libya Wealth Fund Suit

The Libyan Investment Authority said in a $1.5 billion lawsuit that Societe Generale SA paid about $58 million to a friend of the Qaddafi family to secure investments.

Och-Ziff Falls After Disclosing Sovereign-Related Probe

Och-Ziff Capital Management Group LLC (OZM), the hedge-fund firm run by Daniel Och, fell after saying U.S. regulators are investigating whether it broke bribery laws in accepting an investment from a sovereign wealth fund.

U.S. Said to Probe Banks Over Sovereign Wealth Fund Deals

The U.S. Justice Department is investigating whether financial firms made improper payments to secure investments from sovereign wealth funds, according to two people familiar with the matter.

Libya's Sovereign-Wealth Fund Sues Goldman Sachs

Goldman Sachs Group Inc. is being sued by Libya's sovereign-wealth fund, according to a spokesman for the fund.

Libya Fund Helps SEC in Goldman Investigation

Libya's sovereign-wealth fund said it is cooperating with the U.S. Securities and Exchange Commission in its ongoing investigation into Goldman Sachs Group Inc. (GS) over the securities firm's dealings with the fund when Col. Moammar Gadhafi was in power.

New Libyan Sovereign Wealth Fund Chief Seeks Probes

One of the first orders of business in post-Moammar Gadhafi Libya is to clean out the rotten wood.

Tops on that list is investigating corruption at the Libyan Investment Authority, the country’s sovereign wealth fund. Rafik Nayed, the fund’s acting chief executive, said in an interview with the Wall Street Journal that its investment operations are on hold while it looks through $65 billion in holdings to examine dealings with people tied to Gadhafi.

SocGen Deals With Libya Sovereign Fund Eyed By New Government

Officials in Libya’s new governing authority are looking into whether any payments made by Société Générale SA as part of its relationship with the Libyan Investment Authority made it into the hands of people close to the ousted regime of Col. Moammar Gadhafi, the Wall Street Journal reported.

The Journal reviewed documents showing that the French bank paid an unspecified amount to a Panama-registered company, Leinada Inc., to help structure and advise a $1 billion investment vehicle in 2008 for the LIA, Libya’s sovereign wealth fund. The company’s role isn’t clear, but some sovereign wealth fund officials criticized it before the uprising started in February, according to the Journal report.

SocGen Deals Eyed by Libya

Officials working with Libya's new governing authority are examining whether any payments made by Société Générale SA as part of its business relationship with the Libyan Investment Authority ended up in the hands of people close to Col. Moammar Gadhafi's regime.

The French bank paid an unspecified amount to a Panama-registered company, Leinada Inc., to help structure and advise a $1 billion investment vehicle in 2008, according to deal-related documents reviewed by The Wall Street Journal. Leinada's exact role isn't clear, but the company's involvement was criticized by some officials at Libya's sovereign-wealth fund before fighting engulfed the country.