Tripoli Criminal Court convicts a former official over the unlawful disbursement of 20 million dinars and an 80-million property deal struck without a market valuation
LIBYA – The Tripoli Criminal Court, in its latest sessions, sentenced the former chairman of the board of Libya Telecom and Technology to five years in prison and a fine of 100,000 dinars.
Details of the Financial Violations
The Public Prosecution said the ruling followed the defendant’s disbursement of 20 million dinars from the company’s funds in breach of approved systems.
It said the defendant concluded a contract to buy a property for 80 million dinars without a market valuation of its worth, adding that he disbursed 25% of the contract value in breach of the company’s budget-management rules.
