Two associations filed a legal complaint on Monday against Lebanon's central bank governor, Riad Salameh, who they accuse of fraudulently amassing a large fortune in Europe.
Sherpa, which specialises in fighting financial crime, and the "collective of victims of fraudulent and criminal activities in Lebanon" said they were also filing against Mr Salameh's brother Raja, his son Nadi, his nephew, and a close associate at the central bank, Marianne Hoayek, in the case.
The complaints were filed with the French Financial Prosecutor's Office. Last month, Swiss media reported that prosecutors there were tracking Mr Salameh's suspected fund movements.
The central bank governor, who is at the centre of Lebanon’s worst financial crisis in three decades, has repeatedly denied any wrongdoing. Mr Salameh, a former Merrill Lynch banker who advised former prime minister Rafik Hariri, has been governor of the country’s central bank since 1993 and helped Lebanon navigate through successive conflicts with Israel, civil strife, and shielded it from the 2008 global financial crisis.
The Swiss Attorney General's office said in January that it was investigating "aggravated money laundering in connection with possible embezzlement" to the detriment of the Lebanese central bank, or Banque du Liban.
The French complaint, filed on April 30, calls for an international investigation of an alleged conspiracy to launder money, receive laundered money, commit fraud and engage in fraudulent commercial practices, among other accusations.
Lebanon has been mired in deep crisis since 2019, with its currency losing more than 85 per cent of its value against the US dollar. Inflation reached 158 per cent in March. Banks have restricted depositor withdrawals and money transfers abroad. The economic crisis has led to an increase in poverty and unemployment in the country.
The associations are asking the judiciary to investigate Lebanese capital flight since the start of the crisis, and how the people named in the complaint could afford luxury property that was far beyond their official income.
They also want the inquiry to extend to financial intermediaries using tax havens and front companies.
The complaint claims Mr Salameh's fortune is in excess of €2 billion ($2.41bn). The central bank governor was already wealthy prior to heading the country's regulator and declared a net worth of $23 million prior to assuming his role in 1993.
Mr Salameh, who owns a luxury seafront villa in Antibes on the French Riviera, has rejected figures put forward by his accusers.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
If you go
Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.
Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com
A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
More on animal trafficking
Episode list:
Ep1: A recovery like no other- the unevenness of the economic recovery
Ep2: PCR and jobs - the future of work - new trends and challenges
Ep3: The recovery and global trade disruptions - globalisation post-pandemic
Ep4: Inflation- services and goods - debt risks
Ep5: Travel and tourism
UAE currency: the story behind the money in your pockets
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Five healthy carbs and how to eat them
Brown rice: consume an amount that fits in the palm of your hand
Non-starchy vegetables, such as broccoli: consume raw or at low temperatures, and don’t reheat
Oatmeal: look out for pure whole oat grains or kernels, which are locally grown and packaged; avoid those that have travelled from afar
Fruit: a medium bowl a day and no more, and never fruit juices
Lentils and lentil pasta: soak these well and cook them at a low temperature; refrain from eating highly processed pasta variants
Courtesy Roma Megchiani, functional nutritionist at Dubai’s 77 Veggie Boutique
What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
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How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
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