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Libyan fund’s $200 million fraud claim shouldn’t be time-barred over ‘diligence’ failures, UK court told

By Annie Robertson ( June 29, 2021, 15:43 GMT | Insight) -- The Libyan Investment Authority's $200 million corruption claim against Credit Suisse and businessman Walid Ali Al-Giahmi shouldn't be time-barred over its alleged "diligence" failures to uncover the scheme, the fund told London’s High Court. The LIA claims the deal was procured by a “fraudulent and corrupt scheme” between the bank and Giahmi from 2007 to 2009, but that it couldn't have reasonably uncovered the misconduct before November 2013, the relevant limitation cut-off date.The Libyan Investment Authority's $200 million corruption claim against Credit Suisse and Libyan businessman Walid Ali Al-Giahmi shouldn't be time-barred over its alleged “diligence” failures to uncover the scheme, the fund told London’s High Court....

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