Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

French prosecutors accuse Lebanon central bank chief of hiding fraud

French prosecutors accuse Lebanon central bank chief of hiding fraud

French prosecutors have told Lebanon’s central bank governor Riad Salameh they plan to press preliminary fraud and money laundering charges against him, partly based on allegedly forged bank statements used to conceal his wealth, according to French court documents seen by Reuters.
The accusation of using fake account statements, which had not previously been reported, is contained in documents sent to Salameh by French judicial authorities ahead of a planned hearing in France on May 16.

During that hearing, French prosecutors intend to press the preliminary charges and formally name him a suspect.

Salameh declined to comment on his alleged use of fake documents. He has repeatedly denied accusations of fraud and money laundering, saying he is being made a scapegoat for Lebanon’s financial crisis that erupted in 2019.

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

As part of a joint investigation with counterparts in Lebanon and at least four other European countries, French prosecutors suspect Salameh, 72, colluded with his brother Raja to divert more than $300 million in public funds, some of which was used to buy properties across Europe.

Riad and Raja Salameh have denied diverting public funds.

French and other European investigators, who questioned Salameh in Beirut last month, suspect the bulk of the governor’s fortune stems from the public funds he allegedly diverted.

As part of his response to accusations, Salameh sent French prosecutors a 65-page memo supplied by Marwan Kheireddine, the chairman of Lebanon’s AM Bank.

The document seen by Reuters contains series of bank statements which, according to one of Salameh’s lawyers, show how the governor’s savings rose from $15 million in 1993 to more than $150 million by 2019 “as he capitalized interests.”

But according to the French court documents seen by Reuters, French investigators have reached the conclusion the bank statements were fake.

Salameh “used fake records of bank accounts at AM Bank… provided by Marwan Kheireddine, to justify in a deceitful manner the origin of his properties or revenues,” French prosecutors say in the court documents.

Kheireddine’s lawyer, Thierry Marembert, said his client denied wrongdoing.

Following Salameh’s questioning in Beirut, French prosecutors wrote that “Riad Salameh is not able to justify the different loans and investments that allowed him to increase his wealth by more than 250 million euros (at a minimum) during this period,” according to the French court documents.

Salameh has said his fortune came from the sound management of savings he amassed during his career as an investment banker.

Kheireddine was questioned in France earlier this month on suspicion of participation in a criminal association and aggravated money laundering. The banker was told not to leave the country and his passport was confiscated.
Newsletter

Related Articles

Budapest Post
Close
0:00
0:00
Climate cultists thought they had sabotaged another beautiful event — then the cameraman had his revenge.
Nvidia CEO Huang says firms, individuals without AI expertise will be left behind
WPP Revolutionizes Advertising with NVIDIA's AI Powerhouse
Two US Employees Fired For Chasing Robbers Out Of Store As They Broke ''Company Policy''
Pfizer, the EU, and disappearing ink - Smoke, Mirrors, and the Billion-Dose Pfizer Vaccine Deal: EU's 'Open Secret
Actor Tom Hanks told Harvard University graduates to be superheroes in their defense of truth and American ideals, and to resist those who twist the truth for their own gain
A provocative study suggests: Left-Wing Extremism and its Unsettling Connection to Psychopathy and Narcissism
France Arrests 10 on Suspicion of Failing to Respond in Time to Migrant Drowning
Neuralink Receives FDA Approval for First-in-Human Clinical Study
Is Saudi Arabia the holiest place in the world? Ancient Hebrew Inscriptions from "The Mount Sinai Stand" Discovered in Saudi Arabia
Ukrainian Intelligence Official Admits to Assassination Attempts on Putin
WATCH THIS: democracy in Russia is so bad!
Ed Davey: It is possible for a woman to have a penis
Bernard Arnault Loses $11.2 Billion in One Day as Investors Fear Slowdown in US Growth Will Reduce Demand for Luxury Products
Russian’s Wagner Group leader: “I am not a chef, I am a butcher. Russia is in danger of a revolution like in 1917.”
TikTok Sues Montana Over Law Banning the App
Ron DeSantis Jumps Into 2024 Presidential Race, Setting Up Showdown With Trump
Steve Jobs introducing Apple's iPhone, exactly 16 years ago.
China overtakes Japan as world's top car exporter
Elon Musk's SpaceX and Italy's Unipol join forces to help Italians hit by flooding
Talks between US House Republicans and President Biden's Democratic administration on raising the federal government's $31.4tn debt ceiling have paused
Syrian President Bashar al-Assad received a warm welcome at an Arab summit in Jeddah
Biden Administration Eyeing High-Profile Visits to China: The Biden Administration is heating things up by looking into setting up a series of top-level visits to Beijing by top officials in the coming months
New evidence in special counsel probe may undercut Trump’s claim documents he took were automatically declassified
A French court of appeals confirmed former President Nicolas Sarkozy's three-year jail term for corruption and influence peddling
Debt Ceiling Crises Have Unleashed Political Chaos
Weibao Wang, a former software engineer at Apple, was charged with stealing trade secrets related to autonomous systems, including self-driving cars
Mobile phone giant Vodafone to cut 11,000 jobs globally over three years as new boss says its performance not good enough
Elon Musk compares George Soros to Magneto, the supervillain from the Marvel Comics series.
Warren Buffett Sells TSMC Shares Over Concerns About Taiwan's Stability
New Study Finds That Secondary Bacterial Pneumonia Is a Major Cause of Death in COVID-19 Patients Who Require Ventilator Assistance
Vienna: Passenger Plays Hitler Speeches on Train, Causes Panic
The official tapes of Trump's deposition in the E. Jean Carroll battery (rape) and defamation case have been released.
King Charles III being crowned.
Newly released video of Donald Trump’s rape trial deposition:
Video: Ukraine MP Punches Russian Representative At Global Meet
El Paso mayor has declared a state of emergency
Russia accused Ukraine of attacking the Kremlin with drones in an attempt to kill Putin
Ahead of King Charles’ coronation, British guards rehearse in the middle of the night in London
Dutch court orders man who fathered 550 kids to stop donating sperm
Kim Kardashian Lookalike Christina Ashten Dies Of Cardiac Arrest, Hours After Plastic Surgery
Samsung has banned employees from using generative AI services such as ChatGPT
'Godfather Of AI' Geoffrey Hinton Quits Google To Warn Of The Tech's Dangers
A Real woman
Vermont Man Charged with Stalking After Secretly Tracking Woman with Apple AirTag
Elon Musk Statements About Tesla Autopilot Could Be 'Deepfakes,' Lawyers Claim. Judge Evette Pennypacker Does Not Understand How Far and Advanced This Technology Became
Ukraine More Prepared for Counterattack as Reinforcements Arrive
UK Prime Minister Rishi Sunak and Italian Prime Minister Giorgia Meloni Discuss Migration, Defence, and Ukraine
Tucker Carlson is back, soon!
AT&T's Successful Test of Satellite-Based Phone Call Raises Possibility of Widespread Coverage
×