Palladyne Accused in Suit of Laundering Money for Qaddafi
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Dutch hedge fund Palladyne International Asset Management BV was sued in the U.S. by a former employee who claims the company helped Libya’s Qaddafi regime launder money in exchange for kickbacks.
The Amsterdam-based firm’s main purpose was the “laundering and concealment of funds illicitly siphoned” from the regime of Muammar Qaddafi, who was deposed and killed in a 2011 revolution, former employee Dan Friedman, said in a complaint filed in federal court in New Haven, Connecticut, on March 25. The firm denied the claims. Friedman said he was fired from the firm because he raised the allegations and has had difficulty finding work since then.