Newly released documents published by the U.S. Department of Justice have revealed alleged discussions involving convicted financier Jeffrey Epstein and members of his close circle about plans to exploit Libya’s post-2011 instability and gain access to billions of dollars in Libyan state assets under the pretext of reconstruction assistance.
According to the documents, Epstein discussed potential schemes with individuals described as former members of Britain’s MI6 and Israel’s Mossad, allegedly aimed at pressuring or blackmailing Libyan officials in order to seize control of frozen or disputed Libyan assets.
An email dated July 2011, included in the released files, suggests that Epstein and his associates sought to capitalize on the political and economic chaos in Libya following the fall of Muammar Gaddafi. The correspondence notes that approximately $80 billion in Libyan funds were frozen internationally at the time, with $32.4 billion held in the United States alone.
The email further estimates that the actual volume of Libyan assets described as “stolen or embezzled” could be three to four times higher than the frozen amount. Recovering even a small portion of these funds, the message claims, would generate “profits worth billions of dollars.”
In addition, the correspondence refers to prospective plans involving at least $100 billion earmarked for Libya’s future reconstruction and economic revival, describing this phase as an “even greater opportunity.” Libya is portrayed as an attractive target due to its relatively small population, vast energy reserves, and comparatively high literacy rates, factors that were said to provide a favorable environment for large-scale financial and legal initiatives.
The documents also indicate that discussions were held with international law firms willing to operate on a “success fee” basis, while former intelligence operatives allegedly expressed readiness to help identify and pursue Libyan assets abroad. Early involvement in such efforts was described in the email as a “significant opportunity.”
For years, Libyan authorities have sought to recover state funds frozen under United Nations Security Council Resolution 1973, adopted in March 2011 as part of sanctions imposed during the uprising that toppled Gaddafi. Although the Security Council pledged at the time to release the assets once the conflict ended, continued instability and renewed wars in Libya were later cited as justification for maintaining the freeze.
Last year, the Government of National Unity formed a legal committee to engage with several countries after identifying lawsuits filed by foreign entities seeking to claim portions of Libyan assets as compensation for stalled investments during years of conflict.