(IDEX Online News) – South Africa's treasury is investigating claims by Libya that former leader Muammar Gaddafi and his family hid more than $1 billion of diamonds, gold and large sums of money in the country.

 

"There was a group that approached Treasury claiming to represent the Libyan government and we are in the process of verifying their claims about assets that are in South Africa," Finance Minister Pravin Gordhan's spokesman Jabulani Sikhakhane said in comments to The Sunday Times.

 

Libyan investigators met Gordhan and President Jacob Zuma to discuss locating and repatriating in excess of $1 billion in diamonds, gold and cash allegedly brought into South Africa by Gaddafi's family.

 

The assets were placed with four banks and security companies in South Africa, the report added.