Gaddafi 'gave President Sarkozy £42million to fund his election campaign' Nicolas Sarkozy received up to £42million from Colonel Gaddafi to fund his election as president, it was claimed yesterday. Evidence made public in Paris is said to prove that the two men had an illegal financial arrangement that helped Mr Sarkozy to power in 2007. A governmental briefing note published by Mediapart, an investigative website, points to numerous visits to Libya by Mr Sarkozy and his colleagues that were aimed at securing funding. At the time Mr Sarkozy was an ambitious interior minister raising money for his presidential election campaign. Taking cash would have broken political financing laws. Mediapart claims that 50million euros referred to in the note was laundered through bank accounts in Panama and Switzerland. The Swiss account was opened in the name of the sister of Jean-Francois Cope, the leader of Mr Sarkozys ruling UMP party, and the presidents right-hand-man. The money was then allegedly distributed through an arms dealer called Ziad Takieddine, who acted as a middle man between Arab despots and French politicians. Gaddafis son and former heir, Saif, last year stated unambiguously that Libya had financed Mr Sarkozy. Saif, who was arrested after the fall of his fathers regime, said: Sarkozy must first give back the money he took from Libya to finance his electoral campaign. We funded it. We have all the details and are ready to reveal everything.