UK Investigator Seeks Libya Files From SocGen

By John Lee.

The UK’s Serious Fraud Office (SFO) has reportedly sought documents from Societe Generale (SocGen) regarding its relationship with the Libyan Investment Authority (LIA).

Last week, the French banking giant agreed to pay 963 million euros ($1.1 billion) as part of the agreement between the two companies to resolve all matters between them concerning the disputed financial transactions that have been the subject of long-running civil legal action in the English High Court.

According to Bloomberg, an attorney for the LIA says the SFO is conducting its own probe into SocGen, while the bank’s attorney said the document request was made on behalf of US investigators.

(Source: Bloomberg)

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