UK treasury ‘to seize’ Kadhafi’s billions

The British government plans to seize billions of pounds in assets belonging to Libyan leader Moamer Kadhafi which include property and bank accounts, the Telegraph reported Friday.

The Treasury has set up a special unit to track down the assets which are believed to include a 10 million pound London home, the paper said.

“The first priority is to get British nationals out of Libya,” a government source told the daily.

“But then we are ready to move in on Kadhafi’s assets, the work is under way. This is definitely on the radar at the highest levels.”

According to the paper some 20 billion pounds in liquid assets, mostly in London, will be frozen “within days.”