Skip to main content

Chief of Lebanon's central bank accused of concealing fraud by French prosecutors

 


The governor of Lebanon's central bank, Riad Salameh, has been informed by French prosecutors that they intend to bring preliminary charges of fraud and money laundering against him, according to court documents seen by Reuters. This is in part because of allegedly fabricated bank statements that were used to conceal his wealth, according to the documents.

Documents provided to Salameh by French court authorities ahead of a hearing scheduled for May 16 in France contain the accusation of creating phony account statements, which had not previously been disclosed.

At that meeting, French prosecutors aim to formally accuse him and deliver the first set of charges.

Regarding his suspected use of phony documents, Salameh declined to comment. He has categorically refute charges of fraud and money laundering, claiming that he is being used as a scapegoat for Lebanon's economic woes.

The lawyer for Salameh said earlier this month that his client had not decided if he would travel to France to attend the hearing on May 16.

French prosecutors believe Salameh, 72, conspired with his brother Raja to siphon more than $300 million in public monies, some of which was used to purchase homes throughout Europe. They are working on an inquiry with equivalents in Lebanon and at least four other European countries, and this is a component of that probe.

Both Riad and Raja Salameh have denied utilizing public funds improperly. The majority of the governor's fortune, according to the investigators from France and other European countries who questioned Salameh in Beirut last month, comes from the public funds that Salameh is alleged to have plundered.

According to one of Salameh's lawyers, the document seen by Reuters comprises a number of bank documents that demonstrate how the governor's savings increased from $15 million in 1993 to more than $150 million by 2019 "as he capitalized interests."

However, according to French police, according to court documents viewed by Reuters in France, the bank statements were false.

French prosecutors claim in court documents that Salameh "used false records of bank accounts at AM Bank... provided by Marwan Kheireddine, to justify in a dishonest manner the origin of his properties or revenues."

French prosecutors allegedly testified that after questioning Salameh in Beirut, "Riad Salameh is not able to justify the various loans and investments that allowed him to increase his wealth by more than 250 million euros (at a minimum) during this period." This is according to records filed in French courts.

Salameh said that the source of his fortune was the prudent management of the savings he had earned over his career as an investment banker.

Kheireddine was imprisoned in France at the beginning of this month on suspicion of involvement in a criminal gang and aggravating money laundering. The banker was told not to leave the country, and his passport was removed.

Labels:

Comments

Post a Comment

Popular posts from this blog

1 Saudi Move & Impact On West Asian Geopolitics

  As one of the most influential players in the Middle East, Saudi Arabia's actions have far-reaching consequences for West Asian geopolitics. In recent years, we've seen several moves from this powerful nation that are shaking up traditional power dynamics and creating new alliances. From its diplomatic spat with Qatar to its growing relationship with Israel, Saudi Arabia is making bold moves that could change the face of West Asia as we know it. Join us as we dive into the geopolitical implications of Saudi Arabia's latest actions and explore what they mean for the future of this critical region. Saudi Arabia has long been a dominant force in the Middle East, wielding its oil wealth and religious influence to shape regional politics. Its alliance with the United States has given it even greater sway on the global stage, making it a key player in shaping West Asian geopolitics. However, Saudi Arabia's role in the region is not without controversy. Its support for conse
Post a Comment
Read more

Fights break out as Kurds protest the French government's denial of a terrorist attack

  Following the murder of three Kurds in what is being considered to be a probable racist incident , there have been widespread protests in Paris. The fact that the authorities did not view the attack at a Kurdish centre as a terrorist act has enraged the Kurdish diaspora in Paris. A 69-year-old man opened fire on a crowd of individuals early on Friday morning at the Ahmet-Kaya centre on Rue d'Enghien in the 10th arrondissement. One of the three victims is badly injured. All of the dead were Kurdish community members who passed away both inside and outside the cultural centre. Agit Polat, a spokesman for the Kurdish centre, charged that French officials "yet again failed to safeguard us... This is a terrorist attack in our eyes, according to the AFP news agency. In the afternoon, a number of protestors, largely from the Kurdish diaspora, got into a fight with the police outside the centre and in the streets close by, throwing rocks and torching trash cans. Police use
Post a Comment
Read more

Verbal spat between Joe Biden and Benjamin Netanyahu over Israel judicial overhaul

  The Prime Minister of Israel, Benjamin Netanyahu, turned down United States President Joe Biden’s suggestion that the Israeli government “walks away” from a plan to overhaul the country’s legal system. A verbal spat between the two close allies took place on Wednesday. The US President and Israeli Prime Minister exchanged a few words on judicial changes in Israel. On Tuesday, reporters asked Joe Biden about Israel’s judicial overhaul planned reforms. Biden reportedly said, “I hope he (Netanyahu) walks away from it.” He said that the Israeli government “cannot continue down this road” and urged compromise on this plan to overhaul the country’s legal system. Subsequently, the Israeli PM said that his country makes its own decisions. He reportedly said in a statement, “Israel is a sovereign country which makes its decisions by the will of its people and not based on pressures from abroad, including from the best of friends.” Netanyahu’s latest comments came a day after he delaye
Post a Comment
Read more