DOJ probes finance firms' dealings with Libya: WSJ

(Reuters) - The U.S. Department of Justice is investigating banks, private equity firms and hedge funds that may have violated anti-bribery laws in their dealings with Libya's government-run investment fund, the Wall Street Journal reported, citing people familiar with the matter.

Italy court unfreezes Libya's Eni stake

ROME (Reuters) - An Italian court has unfrozen shares in Italian oil and gas group Eni held by the Libyan Investment Authority (LIA) on behalf of the family of former Libyan leader Muammar Gaddafi, judicial sources said on Monday.

Libya's shadow on sovereign wealth funds

NEW YORK: As Libya's citizens rebuild their lives and economy, undoing the corruption in the Libyan Investment Authority (LIA), the sovereign wealth fund in which Muammar Gaddafi's regime allegedly stashed and misused Libya's oil wealth, is becoming a priority.

The National Transitional Council is debating who should take over Libya's Central Bank and the LIA's assets - an especially important decision, given that oil production is not expected to return to pre-war levels for several years.

Libyan sovereign wealth fund 'missing $2.9bn'

Some $2.9bn (£1.8bn) is missing from the accounts of the Libyan sovereign wealth fund, 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 (LIA).

The LIA has total funds worth about $70bn.