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Goldman Sachs hoodwinked Libyan officials in Colonel Gaddafi's ruthless regime into investing more than £800million by plying them with prostitutes, lavish parties and luxury trips, a UK court has heard. Brokers at the world's most powerful investment bank paid for high-class escorts, business travel, five-star hotels and tickets to a Rugby World Cup game in a bid to generate business from Libya's giant sovereign wealth fund, it was claimed. Details of the extravagant hospitality allegedly heaped upon officials from the Libyan Investment Authority (LIA), set up in 2006 to invest the country's oil riches after economic sanctions were lifted, emerged today. Pop star James Blunt's society wife Sofia Wellesley is set to be called as a witness in the court case that will shine a light on Goldman Sachs' dealings with Libya's £46billion wealth fund. A descendant of the Duke of Wellington, she worked as a personal assistant to Mustafa Zarti, the LIA's former deputy chief, at offices in Mayfair. On the first day of a legal battle at London's High Court, Goldman Sachs was accused of exploiting the financial naivity and trust of Gaddafi-era officials into investing in complex financial instruments during the financial crisis. Goldman allegedly wrongly took advantage of trusting officials at the wealth fund to persuade them to invest £846million with the bank between January and April 2008, most of which it lost. Read more: www.dailymail.co.uk... ibyan-officials-court-hears.html#ixzz4Bh8A33on Follow us: @MailOnline on Twitter | DailyMail on Facebook
originally posted by: JaMeDoIt
At what point were you surprised to learn that the big boys will do anything?