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The Libyan Investment Authority said it replaced its chairman, Abdulmagid Breish, amid an investigation into his role in the government of ousted leader Moammar Gadhafi.Breish was asked to leave his position at the LIA amid an inquiry under Libya's "Political Isolation law," the LIA said in a statement. Breish, a former Arab Banking Corp. executive who had been the LIA's chairman and interim chief executive officer for 13 months, led the sovereign wealth fund into billion-dollar lawsuits against Societe Generale SA and Goldman Sachs Group Inc. over 2008 investment losses.
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