Fake oranges filled with Captagon pills that were discovered by Lebanese customs officers in a shipment of real fruit at Beirut port. AFP
Fake oranges filled with Captagon pills that were discovered by Lebanese customs officers in a shipment of real fruit at Beirut port. AFP
Fake oranges filled with Captagon pills that were discovered by Lebanese customs officers in a shipment of real fruit at Beirut port. AFP
Fake oranges filled with Captagon pills that were discovered by Lebanese customs officers in a shipment of real fruit at Beirut port. AFP

Captagon pills hidden in fake oranges seized in Lebanon


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Lebanese customs officers found millions of Captagon pills hidden in fake oranges, the latest haul of the drug.

Interior Minister Bassam Mawlawi said the officers found nearly nine million Captagon tablets at Beirut port in a shipment scheduled for a Gulf state.

The Customs Directorate said several people were arrested in connection with the smuggling attempt, Lebanon's National News Agency reported.

Lebanon's Interior Minister Bassan Mawlawi inspects fake oranges filled with Captagon pills that were discovered in a shipment of fruit at Beirut port on December 29, 2021. AFP
Lebanon's Interior Minister Bassan Mawlawi inspects fake oranges filled with Captagon pills that were discovered in a shipment of fruit at Beirut port on December 29, 2021. AFP

A customs officer told AFP the cargo was en route to Kuwait.

The tablets were placed in small bags hidden in fake oranges within a consignment of real fruit.

An investigation has been opened to determine the source of the Captagon, an amphetamine-type stimulant manufactured mostly in Lebanon and Syria.

Lebanon, which is suffering political paralysis and economic crisis, has stepped up its efforts to thwart Captagon trafficking through its ports following criticism from Gulf countries about a lack of co-operation.

This was the second haul of Captagon hidden in fruit in a week.

On December 23, Dubai police said they arrested four men "of Arab nationality" for trying to smuggle millions of dollars worth of Captagon into the UAE.

The more than one million pills were concealed in plastic lemons among a shipment of real lemons.

In April, Saudi Arabia suspended fruit and vegetable imports from Lebanon after more than five million Captagon pills concealed in fruit were confiscated.

Captagon is a brand name for the amphetamine-type stimulant fenethylline.

According to a European Union-funded report by the Centre for Operational Analysis and Research, "Captagon exports from Syria reached a market value of at least $3.46 billion" in 2020.

In November, the Syrian Army said it found half a tonne of Captagon hidden in a spaghetti shipment.

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yallacompare profile

Date of launch: 2014

Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer

Based: Media City, Dubai 

Sector: Financial services

Size: 120 employees

Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)

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Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

Retirement funds heavily invested in equities at a risky time

Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.

Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.

The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.

The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.

Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.

The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.

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Updated: January 26, 2022, 8:38 AM