Fugitive yacht dealer held in Libyan jail on drugs charges

Wanted in Italy on charges of a multi-million euro fraud, yacht dealer Giulio Lolli has been arrested for drug trafficking and faces an uncertain future in a Tripoli prison

Giulio Lolli, the ex-president of bankrupt Italian yacht dealership Rimini Yacht, is currently being held in a Libyan prison after arriving in Tripoli aboard a yacht carrying drugs and strong alcohol, according to reports in the Italian press.

Lolli, 45, has been on the run since May 2010 following an order from Italian courts for his arrest. He is believed to be the mastermind behind a ‘mega-fraud’ reportedly worth tens of millions of euros, which saw the same yachts being sold several times over to different clients. Up to 10 other people are implicated in the fraud, including local tax officials.

Lolli arrived in Libya aboard a Bertram yacht, which when searched by Libyan authorities was found to be carrying cocaine and strong alcohol, both forbidden in the country. Upon Lolli’s incarceration Libyan authorities informed the ex-president of Rimini Yacht of the international arrest warrant issued for him by Italian magistrates and an extradition procedure was started.

Prior to the outbreak of the recent conflicts in Libya, Lolli declared that he was opposed to his extradition. Italian diplomats have since left Libya's capital Tripoli for security reasons, making pursuance of the extradition order and contact with Lolli difficult. Internet sources report that in the past month there have been outbreaks of violence and escapes at Al-Jadida jail in Tripoli, where Lolli is known to have been held since mid-January.

In addition to the charges he faces in Italy, Lolli also risks a long jail term in Libya for the drugs and alcohol found on the Bertram, as well as for the false documents he presented to Libyan authorities upon his arrival in the country.

Source IBI NEWS