{"id":362,"date":"2022-10-20T09:38:00","date_gmt":"2022-10-20T09:38:00","guid":{"rendered":"https:\/\/laip.ly\/en\/?p=362"},"modified":"2022-12-28T12:33:44","modified_gmt":"2022-12-28T12:33:44","slug":"press-release","status":"publish","type":"post","link":"https:\/\/laip.ly\/en\/blog\/2022\/10\/20\/press-release\/","title":{"rendered":"Press Release"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">On 11\/05\/2022, LAIP by Allah\u2019s grace, has after ten years of hard work succeeded in winning the case against the parties involved in illegal and fraudulent conduct of LAIP\u2019s funds at Deutsche Bank in Frankfurt in 2011, by taking advantage of Libya\u2019s instability in 2011 and where the Supreme Court of the Federal Republic of Germany had issued the following rulings:<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Convicting the accused and sentencing them to prison terms ranging from two to four years.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Obligating the convicts to return the sum of funds that they had illegally seized in 2011, amounting to 16 million US dollars as well as pay all legal expenses.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Refund of the guarantee deposit placed with the court treasury pending the case.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">Reaching to this ruling went through various stages and obstacles that were overcome by the grace of Allah through the concerted and cooperation of all parties involved: LAIP\u2019s employees, its executive management and its successive boards of directors, the Libyan Investment Authority (LIA), the Office of the Attorney General, the Libyan Ministry of Foreign Affairs and the Embassy of Libya in the Federal State of Germany.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today, as we write this statement, we cannot express enough our gratitude and appreciation to everyone who contributed to the closing of this case which will also enforce LAIP\u2019S position in demanding compensation for missed earnings<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 11\/05\/2022, LAIP by Allah\u2019s grace, has after ten years of hard work succeeded in winning the case against the parties involved in illegal and fraudulent conduct of LAIP\u2019s funds at Deutsche Bank in Frankfurt in 2011, by taking advantage of Libya\u2019s instability in 2011 and where the Supreme Court of the Federal Republic of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2248,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - 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