June 5, 2011, TRIPOLI, LIBYA - Shortly after Libya's rebel Interim Transitional National Council (ITNC) seized control of Benghazi, the second-largest Libyan city, they discovered the two keys for the cash vaults of the Libyan Central Bank in the city. However, because of control mechanisms, the cash vault required a third key held at the Libyan Central Bank in Tripoli, the capital. The rebel movement brought in a professional safe cracker from the United Arab Emirates who successfully opened the cash vault safe. The rebels had their hands on $900 million in Libyan dinars and $500.5 million in U.S. dollars.
According to Central Bank officials in Tripoli, the rebels have now spent or siphoned to their offshore bank accounts the entire Benghazi Central Bank cash reserves. In addition, the rebel movement has squandered millions of euros provided by the Euriopean Union. The rebel's theft of money is so great, the U.S. Treasury has refused to provide frozen Libyan central government funds to the rebel movement.