We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Libya Wealth Fund Says Bear Sterns Paid Bribe For Bond Deal

Law360, London (March 12, 2019, 7:59 PM GMT) -- The Libyan Investment Authority has renewed calls for a London court to cancel a $180 million bond agreement issued by now-JPMorgan unit Bear Stearns, saying the firm paid and then concealed a $6 million bribe to a businessman with ties to the Moammar Gadhafi regime to secure the deal.

The country's sovereign wealth fund said Bear Stearns knew or at least suspected that Walid Al-Giahmi wasn't working as a legitimate broker when it hired him in 2007 to set up an introductory meeting with the fund's executive team, according to documents filed Friday with the High Court.

The fund repeated accusations...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!



Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.



Law Firms