The Libyan Investment Authority sued JPMorgan Chase & Co. in London, saying the lender paid more than $6 million in bribes to secure a $200 million bond deal.
JPMorgan’s Bear Stearns sent the payments to businessman Walid Al-Giahmi -- a close friend of the Qaddafi regime -- to arrange deals in a contract that was no more than a “sham” agreement, according to London court documents released Tuesday. The bank has until next month to submit defense documents in the case, which was filed in April. A spokesman declined to comment.
