Blind Item: Which Well-Known Dictator's Regime Passed Up An Opportunity To Invest With Bernie Madoff?

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Hint: he calls Libya home and recently vowed to "fight to the death" anyone questioning his leadership skills.

Moammar Gadhafi’s regime controls $32 billion in liquid assets around the world, including hundreds of millions of dollars invested in U.S. banks, according to a confidential cable written by the U.S. ambassador to Libya last year. The leaked diplomatic message was distributed through WikiLeaks.

The same cable reported that Libya had been approached by two men accused of running huge Ponzi schemes, Bernard Madoff and Allen Stanford, but had resisted offers from them to invest Libyan funds with them...The cable is entitled "Technology of Tourism: Head of Libyan Investment Authority Discusses Opportunities for US Business in Libya," and was written Jan. 28, 2010, by Ambassador Gene A. Cretz, after a meeting with Mohamed Layas, the head of the LIA, Libya’s sovereign wealth fund. Sovereign wealth funds are the vehicles used by Middle East and other governments to invest oil wealth. The LIA, according to U.S. intelligence, is controlled by Gadhafi's regime.

"Stanford had approached the LIA in the middle of his crisis, offering a 7-8% share in his investment scheme, but Layas had refused," Cretz wrote. "Layas also mentioned having been previously approached by Bernard Madoff about an investment opportunity, 'but we did not accept’."

Gadhafi controls $32 billion, turned down Madoff, diplomat wrote [MSNBC]

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