Audit Bureau bans Companies, Freezes Bank Accounts

By John Lee.

The Tripoli-based Libyan Audit Bureau has reportedly banned 10 Libyan and 13 foreign companies from dealing with Libya, and has frozen the accounts of companies to the value of Euro 37 million and $12 million.

The move relates to money smuggling, facilitated by opening Letters of Credit (LCs) in favour of foreign companies and the shipping of goods costing a fraction of the LC.

According to published documents, the foreign companies involved were:

  1. GSB Alliances SA (Switzerland)
  2. Delta Company (Tunisia)
  3. FLNCO General Trading (Dubai)
  4. Al-Fajr Company International Trading (Tunisia)
  5. Equitrade Ltd (Malta)
  6. Atlantic and Pacific for International Trading (Tunisia)
  7. Monami Overseas Ltd (Malta)
  8. Victoria Sea General Trading (Dubai)
  9. Almasar Aljadeed General Trading (Sharjah)
  10. Rona Chena Heavy Industrial Equibment Co Ltd (Hong Kong)
  11. Ohio Building Materials (Dubai)
  12. Al-Dahra General Trading (Dubai)
  13. Rakan Limited (Malta)

(Sources: Libya Herald, Alwasat)

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