Muammar Qadaffy, the country's leader, has no personal assets in Swiss bank accounts, Not anymore, he doesn't...
and that any cash held in the country belongs to the government's foreign investment arm.
Speaking at a presser early on Wednesday, Khaled Kaim, the deputy foreign minister, said that the money was far less than the $418.4 million that Swiss authorities said they had frozen, putting it closer to $29 million.
"The money in bank accounts abroad is part of the investment portfolio of the government abroad," he told news hounds. "If there is a single penny of the leader's money ... you are free to take it and to give it to anyone."
On Monday, Swiss authorities said they had found 360 million Swiss francs ($418.4 million) of assets that were potentially illegal and belonged to either Muammar Qadaffy or his circle.
In July 2008, relations between Switzerland and Libya soured when Geneva police placed in durance vile Hannibal Qadaffy, one of Muammar Qadaffy's sons, on charges of abusing two domestic employees. The charges were later dropped after a confidential settlement was reached with the victims.
At the time, Libya withdrew more than $5 billion from Swiss banks, halted oil exports to Switzerland and barred two Swiss businessmen who were working in Libya from leaving the country for more than a year.