Taha Buishi -the CEO of Sam Serj - a Malta-based company,  tried to facilitate a $270 million arms deal between Libya and South Africa, and is also leading the hunt to reclaim Gaddafi billions of dollars in cash, gold and diamonds being held in South African banks.

Sam Serj describes itself as an import/export company active in the oil and gas trade.

The company’s CEO has reportedly met South African president Jacob Zuma twice to discuss locating and repatriating the funds.

A meeting held early this year in South Africa was attended by a number of Libyans, President Zuma and a South African businessman.

Mr Buishi claims to represent the Libyan government, although the internationally-recognised Tobruk parliament has dismissed him and others as “treasure hunters” who are seeking the Gaddafi fortune for personal gain.

An official from Libya’s asset recovery board has said the documents presented by the Malta-based company Sam Serj to the South African government are counterfeit and false.

Sam Serj’s CEO denies this, saying his company is working on behalf of the Libyan government.

The Malta-based company also reportedly tried to broker an arms deal between the Libyan Ministry of Defence and the South African government.  

Mr Buishi requested that President Zuma set up a presidential task force and a bilateral committee to find and repatriate Gaddafi funds, as well as support a proposed $3-billion joint venture and the $270 million arms deal.

“There is also a signed contract between a Libyan company and the Libyan Ministry of Defence to the value of $270-million for the supply of military equipment,” The Sunday Times of South Africa reports Mr Buishi as saying.

“This contract is on offer for South African companies to take part in.”

The hunt for Gaddafi’s billions has led to a rift between South Africa and the United Nations.

The rift began due to a lack of cooperation with the UN by the South African government security chief Tito Maleka.

Mr Maleka has served as the primary point of contact with the South Africana government for the Malta-based company seeking Gaddafi’s millions.

The UN committee tasked with tracking and monitoring Gaddafi’s assets reportedly grew frustrated with Mr Maleka’s lack of cooperation, which eventually led to his dismissal by the South African government.

In an added twist, South Africa’s The Sunday Independent reports that Mr Maleka was dismissed as a result of his knowledge of the involvement of senior South African government officials in the disappearance of the Gaddafi billions.

The CEO of the Malta-based company expressed his disappointed at Mr Maleka’s removal. Mr Buishi said Mr Maleka was their initial contact with the South African government, and was helpful to the Libyan cause.

Malta has seen a significant number of companies with Libyan interests registered here since the 2011 revolution which saw the overthrow of Dictator Muammar Gaddafi, who was hunted down and killed in Libya.

This week, former Labour Party treasurer and candidate Joe Sammut was charged in court for helping Libyans obtain residence permits by creating fictitious companies.

A legal battle is currently under way in Malta for the millions of euros accumulated by Gaddafi’s son–Mutassim. The funds are frozen in a Bank of Valletta account.

Legal filings show that the dictator's son had as much as €55 million dollars in his BOV account, often racking up €100,000 on his BOV Visa Platinum card in a matter of weeks.

The Wall Street Journal says that Mr Gaddafi started opening BOV accounts in 2002, under the guise of Malta-incorporated companies that he controlled. The accounts' assets swelled from €700 to at least €60 million in early 2011, just before the Libyan revolution.

The role of auditor Joe Sammut, who opened a number of shell companies on Gaddafi's behalf, has also been called into question.

Court transcripts of the testimony given by Mr Sammut show that he did not flag the large money transfers in and out of the BOV accounts in question as suspicious.