Investment Trio Slammed for Ripping Off Libyan Fund by £46 Million
Frederic Marino, Yoshika Ohmura, and Aurelien Bessot have been found guilty of hacking off the Libya Africa Investment Portfolio (LAIP) for tens of millions. Marino and Ohmura were convicted of conspiracy to commit fraud, while Bessot pleaded guilty before the trial even kicked off.
Seven-Year NCA Probe Uncovers Massive Fraud
The National Crime Agency’s (NCA) painstaking seven-year investigation — backed by the Crown Prosecution Service — revealed how the trio abused their positions to swindle LAIP’s £822 million fund. The London-based FM Capital Partners (FMCP), set up by Marino and Bessot in 2009, was at the heart of the scam.
Through Swiss banker Ohmura, the gang cooked up dodgy deals, declaring lower fees and funneling cash through shell companies in the Seychelles and Cayman Islands. Between 2009 and 2014, they drained $46 million (£37 million) from LAIP, pocketing an estimated £26 million for themselves.
Red Flags Raised After Libyan Revolution
The fraud only came to light in 2014, when Libyan board members demanded a full probe after the revolution. An independent auditor sifted through 5 million records, producing a blockbuster 350-page report. When grilling started, Marino bolted, fleeing to Norway.
The NCA then launched a complex chase across multiple countries including Libya, Switzerland, UAE, Monaco, and Guernsey to track down the truth.
NCA and CPS Vow to Hunt Down Stolen Cash
Richard Harrison, NCA Branch Commander, said: “This has been an extremely complex investigation with multi-jurisdictional challenges. The NCA is committed to tackling fraud and those who abuse the UK’s financial centre to facilitate their crimes. This seven-year investigation demonstrates that we will work relentlessly to pursue those involved.”
“These funds belonged to the Libyan people but were stolen for the defendants’ own lavish lifestyles. We have identified criminal assets and will go after every penny to recover the victims’ losses.”
Andrew West of the CPS added: “These fraudsters showed utter greed and disregard for the Libyan people by robbing approximately £46 million. They shattered trust placed in them to diversify Libya’s investments away from oil. We will hunt down and seize their ill-gotten gains.”
This long-running case sends a stark warning — crooks exploiting trust and power to line their pockets will face the full force of the law.
