The former chief of Nicolas Sarkozy's presidential election campaign has denied allegations by the son of Moammar Gaddafi's that they received funding from Libya.

Claude Gueant, who is now France’s interior minister, said that all electoral campaign accounts were audited had to be verified by the French Constitutional Council.

On Wednesday, Saif al-Islam Gaddafi claimed that Libya had made financial contributions to Sarkozy’s 2007 presidential campaign – and now they want their money back. Saif also threatened to reveal all the financial details related to Sarkozy’s 2007 election.

We funded it and we have all the details and are ready to reveal everything, Saif said.

But he's disappointed us, Give us back our money. We have all the bank details and documents for the transfer operations and we will make everything public soon.

Saif also referred to Sarkozy as a “clown.”

He made the allegations to the French-based Euronews television.

The Elysee Palace has denied that Sarkozy benefited in any way from any Libyan funds.

We deny it, quite evidently, a spokesman told Paris newspaper Le Monde.

Similarly, Gueant, the president's former chief adviser for four years, told French radio station Europe 1 that if the Libyans had such embarrassing material about Sarkozy's campaign funding, instead of saying it all the time, they should just go ahead and do it.

I don't see how [Libya] could have [such comprising evidence] since no such thing exists, Gueant added.

Saif's charges come as France is leading efforts to impose a no-fly zone over Libya. Sarkozy has already recognized Libya’s rebel groups as that country’s legitimate government.

What cannot be denied is that Moammar Gaddafi visited Sarkozy in Paris in December 2007, shortly after Sarkozy’s ex-wife Cecilia had flown to Tripoli to secure the release of six Bulgarian doctors and nurses.