THE GUARDIAN: Colonel Gaddafi's son was educated in London and has friends in the City and Westminster. Or he did until last weekGeneva places a high premium on guarding secrets, but rumours are a different currency. Amid momentous scenes being played out across the Middle East last week, sources in the Swiss financial centre were privately gossiping about a visit to Geneva earlier this year by Farhat Bengdara, the governor of the Central Bank of Libya.
According to one popular rumour, Bengdara had visited Geneva with a purpose. He was there to make changes to key Swiss accounts, into which flow hundreds of millions of dollars of Libyan oil money that are then allocated to the Libyan Investment Authority and the Libyan Central Bank.
Financiers in Geneva gossip that, as far back as 17 January, Bengdara established that four new names would be added as signatories on three crucial accounts controlling much of the money. The signatories were Colonel Muammar Gaddafi; his son Khamis, who heads Libya's infamous martyrs' battalion; the Libyan leader's daughter Aisha; and his son Saif al-Islam.
Where Libya's petro-dollars may have been channelled in the weeks since tensions first erupted across the Arab world is hard to say. But those who know him would be surprised if Saif did not hold the answers.
The westernised 38-year-old, who studied at the London School of Economics and enjoys close friendships with senior British politicians and financiers, has become the focal point of the conflict now threatening to rip Libya apart.
Whereas Gaddafi senior has always been seen in the west as a dictator – albeit one brought back into the fold – Saif, a trained architect who established a medical charity and was considered his father's heir apparent, held out the promise of a new dawn.
As far back as 2002, Saif told an interviewer that Libya needed democracy. "It's policy number one for us. First thing democracy, second thing democracy, third thing democracy," Saif said, using a rhetorical technique he was to repeat last week to far more sinister effect. >>> Jamie Doward | Saturday, February 26, 2011
