LONDON -- With United States moving to freeze the assets of Col. Gaddafi in America; it was revealed that Libyan leader has already transferred secretly an amount of £3 billion ($4.8 billion) with one of London's private wealth managers last week in an attempt to protect his family's fortunes.
U.S. President Barack Obama on Friday forced sanctions on Gaddafi’s government over a violent onslaught on demonstrators, in a clear attempt to further weaken the 42-year-long strongman's staggering rule.
President Obama exercised presidential power in an executive order, seizing assets and blocking any property in the U.S. belonging to Gaddafi or his children.
In a statement, Obama said the measures were specifically targeted against the Gaddafi government and not the material wealth of the Libyan people themselves.
The U.K. Treasury came forward in efforts to outline and freeze Gaddafi’s assets in Britain Friday, which are supposed to include billions of dollars in bank accounts, some commercial property and a $16-billion mansion in London.
The Swiss Government also instructed its banks on Friday to freeze any assets belonging to Gaddafi, issuing a comprehensive blocking order covering 29 people, including the dictator's wife and children, some of his wife's relatives and six officials of the regime.
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