The LIA alleges that the prince exerted "unacceptable pressure" in an attempt to obtain payment of nearly 70 million euros that he claims he is owed by the Libyan Ministry for Agriculture.
The reforestation project, signed in 2008, aimed to reforest desert regions of inland Libya.
However, it collapsed with the outbreak of civil war in Libya in 2011.
The LIA claims that Prince Laurent falsely claimed he could influence the criminal procedure against the LIA and its CEO, using his status as a public office holder to extort payments.
The law firm representing the LIA, Jus Cogens, filed the criminal complaint with the investigative judge on Thursday, providing factual elements that they say demonstrate Prince Laurent's wrongdoing.
The royal household and the king's cabinet have not yet responded to requests for comment on the matter.
It is unclear how the case will proceed, as Belgium does not extradite its own citizens.
The LIA's lawsuit against Prince Laurent is the latest in a series of legal battles over the management of Libya's sovereign wealth fund.
The fund is currently frozen in Brussels-based bank Euroclear, as Libya has been under international sanctions since 2011.
LONDON DAILY ARCHIVE
Libyan Sovereign Wealth Fund Accuses Belgian Prince of Fraud and Extortion in Reforestation Project
Libya's sovereign wealth fund, the Libyan Investment Authority (LIA), has filed a criminal complaint against Belgium's Prince Laurent, accusing him of fraud and extortion in connection with a failed reforestation project.
14 July 2023 · 21:46 UTC
