What happened to 143 tons of Colonel Gaddafi gold?

Muammar Qaddafi or Colonel Gaddafi was the president of Libya and a dictator who ruled Libya for quite a long time. He had gold reserves worth $6 billion but he spent his last days of life in a sewerage pipe. What happened to Gaddafi's 143 tons of Gold after his death?

The death of Colonel Gaddafi

Gaddafi was hiding in the sewerage pipe when rebels tracked him down near his hometown, Sirte. They dragged him out and pushed along the road by the people where he was shot in his head and he fell to death.

He died on October 20, 2011, only 8 months after the revolutionary movement initiated against his rule. A billionaire, the owner of 143 tons of Gold died in a disrespectful way. Obviously, he did not take anything with him to the next world, so what happened to the gold of Libya's Gaddafi? Recommended: 12 years after his death, where is Saddam’s body?

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The wealth of Libya

Libya was a wealthy and powerful country with many oil reserves, before Qaddafi’s death, his sidekicks and right-hand people in Libyan Government accumulated more than 143 tons of Sovereign Gold worth $6 billion.

The government of Libya had plans to use that Gold for the development of the country, only if Qaddafi & Co, his allies wouldn’t have literally looted and hidden it for no good or of any use for the people of the country.

It was said that before his death Gaddafi sold a fifth of Libyan gold reserves. The odds are that the profit earned from this business deal is missing.

Moreover, Gaddafi invested his money in secret companies and made a deposit of some of his money in secret bank accounts. It was and is still claimed that Gaddafi owned between $100 million and $200 million.

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He earned millions of dollars through offshore companies in which he made obscure appointments making them secure par beyond anyone’s reach and nontraceable to the real owners.

The prominent yet missing figure in the search for Gaddafi money is a man Bashir Saleh Bashir who was once Libyan leader’s chief of Staff and, of course, right-hand man to Qaddafi. In Libya, he is known as Gaddafi banker.

He is alleged to have invested and hidden Gaddafi’s private wealth and he used to manage multi-billion dollars’ branch of Libyan state fund. The people said Gaddafi pocketed the money himself.

After Qaddafi’s death, his name was included in Panama papers and as a result, Bashir became wanted.  

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The search for Libya's Gaddafi Gold

In 2012 the breakthrough in the search of Gaddafi treasure seemed almost imminent when Abdullah Sanussi, Libya’s former head of intelligence services claimed that Colonel Gaddafi had buried his gold in the Libyan desert but he did not disclose the exact location where he had buried that gold.

One of the former Libyan ministers offered help to find the hidden assets of Colonel Gaddafi but he was found dead, murdered before he could provide any information.

According to the sources, the investigators who are searching for Gaddafi’s wealth and treasure have set their eyes on Bashir Saleh Bashir and Dabaiba, a man who was once a part of the Dictator’s inner circle.

He is known to be a part of the syndicate known as “Companions of the Leader” in Libya.  It was also reported that some of the Gaddafi wealth remains unaccounted and some of his wealth turned up in Italy, U.S, and Germany.

The new government froze Dabaiba assets and placed his name on the list of people who were suspected of having embezzled states fund but he moved to London where his family owned valuable properties.

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What happened to 143 tons of Gold of Colonel Gaddafi?

This mystery is yet not solved. The investigation is still in process. Dabaiba was suspected for this case but very recently, Dabaiba declared his most recent assets which include few cars, some jewelry, and farms with four camels but the investigator are unwilling to believe this.

Source: Panama Papers

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Steve has been living in Saudi Arabia since 2013 and writing about Saudi rules, regulations, guides, and procedures since then.