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JPMorgan, Citi Among Banks Targeted in Qaddafi-Looting Subpoena

  • Former Dictator stole tens of billions of dollars, Libya says
  • Libyan agency asks court permission to access banking records
Former dictator Moammar Al Qaddafi

Former dictator Moammar Al Qaddafi

Photographer: Daniel Acker/Bloomberg

JPMorgan Chase & Co., Citigroup Inc. and six other large banks may have information about billions of dollars looted from Libya by its former dictator Moammar Al Qaddafi, the Libya government said in subpoena application. 

In a filing Thursday in Manhattan federal court, the Libyan Asset Recovery and Management Office said it believes that money stolen by Qaddafi, his family and associates was transferred through  Bank of America Corp., UBS Group AG, HSBC Holdings PLC, Credit Suisse Group AG, Bank of New York Mellon Corp. and Deutsche Bank AG., along with Citi and JPMorgan.