Jan Marsalek, the former COO of Wirecard and a fugitive wanted for Europe’s largest financial fraud, has operated as a Russian intelligence agent of influence with extensive clandestine financial interests in Libya. According to a Financial Times and Bayerischer Rundfunk joint investigation published on December 11, 2025, Marsalek funneled millions of euros stolen from Wirecard into strategic Libyan assets including three cement factories and oil drilling operations managed by Libya Holdings Group (LHG), founded by Ahmed Ben Halim, a London-based financier with Libyan exile connections. Marsalek concealed ownership via offshore shell companies and Cyprus-registered entities, acting as a silent partner to a Dubai businessman nominally controlling the Libyan Cement Company (LCC). He also backed Lorasco, an operator of drilling rigs worth over $80 million, channeling $10 million through a Singapore-linked entity into this venture. His involvement extended beyond finance, with email evidence showing engagement with the Russian mercenary group RSB for demining. Marsalek’s network aimed to leverage Libya’s reconstruction needs and political landscape to advance Russian geopolitical objectives, including fostering ties with local warlords like General Khalifa Haftar, supported by Russia. Marsalek’s attempts to influence Libyan politics included proposing Ben Halim as a prime ministerial candidate. Since Marsalek fled to Russia in 2020, disputes erupted among his associates, notably Joe Bowman who sought to acquire Marsalek’s stakes via a company controlled by his wife, sparking legal battles with LHG who claim these assets are proceeds of crime and froze share transfers. Marsalek’s current operational status remains unclear, but the strategic significance of Libya as a gateway to Africa and a geopolitical lever to Europe underscores the importance of these clandestine investments to Moscow. UK security services appear inactive despite recent convictions of British-Bulgarian spies linked to Marsalek’s operations. This investigation exposes how Marsalek blends criminal fraud, espionage, and influence operations to further Russian interests under the cloak of legitimate business in North Africa.
Category: Uncategorized
Country: Libya
Source report: archive.is/Gq5se
