The Malta Independent reported this story in “Dispute over Gaddafi’s €90 million estate held in Malta.”

Similar stories have appeared in the past.

Dictators or their families have in the past been accused of stealing money from their countries and stashing it in foreign bank accounts. Under international laws there is a process for successor governments to prove the money was stolen and reclaim it. However, it is not always easy to prove the money was stolen or that the new government is legitimate.

In this case, the government situation in Libya is playing into the widow’s hands. She is the nearest relative as a successor to her son. If no one can prove the money was stolen and that it should be given to a legitimate government, then the widow could end up with the money.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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