In May 2011 , '' The Washington Post '' detailed the holdings of the LIA . Despite a severe lack of transparency , the LIA saw an astonishing influx of foreign investment after Libya was removed from the U.S. 's list of state sponsors of terrorism in 2006 , thereby lifting previously imposed economic sanctions . '' The Post '' reported that investment in Libya " occurred with encouragement from U.S. officials , who wanted to reward Gaddafi for pledging to honor international law , disavow terrorism and compensate relatives of victims of the Pan Am Flight 103 bombing : " As of Q1 of 2010 , the LIA held approximately US$ 56 billion in assets around the world , broken down as follows : By May 2011 , U.S. regulators had frozen $ 37 billion of the LIA 's assets there , including $ 29 billion in a single bank . The head of the London School of Economics resigned after it was revealed that he had served as an informal adviser to the LIA and accepted a donation from the fund to the school . UniCredit , Italy 's largest bank , also froze some of Gaddafi 's assets
Pan Am Flight 103 bombing
Pan Am Flight 103
Libyan Investment Authority