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Latino Daily News

Friday March 4, 2011

Gaddafi’s Assets in Spain Frozen

As the brutal attacks on his own people continue, Gaddafi’s assets in Spain have been frozen by the country’s government.

The freezing of assets in Spain is part of the application of a European Union regulation, and is but one of the actions being taken against the leader’s regime. The EU is working from an itemized list created by the United Nations of individual names and companies associated with Gaddafi.

Spanish diplomatic personnel are also being evacuated out of Libya, and a statement was released saying the embassy would be run by local people remaining at their posts to continue administrative duties. But the withdrawal however, is not an indication that diplomatic relations have been severed.

Gaddafi has 6,000 hectares (about 14,826 acres) of land in Benahavis on the Costa del Sol, and it is a part of the assets frozen in the country. The land was planned to be the site of almost 2,000 homes, as well as a golf course and congress hall.

Currently, the Spanish Ministry for Tax and the Economy is preparing to investigate where any bank account in Spain are linked to members of Gaddafi’s regime.