The former CEO of the bank responsible for handling Libya’s oil wealth has been arrested for fraud, according to Libyan security and judicial officials cited by Bloomberg —and the bank shakeup could trickle down to the oil production level. The move to arrest the former CEO of Libyan Foreign Bank (LFB)—Libya’s central bank—is just the latest in the years’ long saga for the entity responsible for handling the country’s oil money, such that it is. Mohamed bin Youssef has been charged with “squandering funds and mismanaging the bank’s assets,” Bloomberg reported, citing an official at the Interior Ministry. Libya’s oil revenues have been a sticking point in Libya’s recovery, with warring factions controlling either the oilfields or the money—not both. The bank’s leadership has been another source of contention, which resulted in bin Youssef being ousted back in 2018 for allegedly falsifying profits and making risky investments that LFB’s […]