Officials working with Libya’s new governing authority are reportedly assessing whether any payments made by Société Générale SA to the Libyan Investment Authority (“LIA”) as part of its business relationship were ultimately paid to people who were close to the ousted regime of Colonel Moammar Gadhafi.

It is alleged that the bank paid an unspecified sum to a Panama-registered company, Leinada Inc., in connection with a $1 billion investment vehicle for the LIA in 2008. The company’s role in the deal is unclear, but the bank declined to comment on its relationship with either the company or its ties to the LIA. The bank did however confirm that it “works occasionally with financial intermediaries in countries where [it] does not have local teams in place.”