Latest news with #SpecialInvestigationCommission
LBCI
27-06-2025
- Politics
- LBCI
Lebanon's Central Bank denies lifting banking secrecy on corruption suspects
Banque du Liban issued a statement on Friday denying reports that it had unilaterally lifted banking secrecy and reopened accounts belonging to individuals previously accused of corruption. The statement clarified that the decision in question did not originate from the central bank or any of its regulatory bodies, including the Special Investigation Commission. Instead, it said the relevant judicial authorities had issued a final ruling, determining that the statute of limitations had nullified the charges brought against the individuals. Following the court's decision, the judiciary formally notified Banque du Liban that all legal proceedings had ended and requested the lifting of account freezes and the reinstatement of banking secrecy. "The Central Bank complied with this binding judicial ruling, as required by law," the statement said. "Any attempt to hold the bank accountable in this matter is misplaced and misleading to public opinion."
LBCI
04-04-2025
- Business
- LBCI
Lebanon cracks down on corruption: Karim Salam facing embezzlement charges
Report by Lara El Hachem, English adaptation by Mariella Succar Lebanon's financial public prosecutor has indicted Karim Salam, the brother of former Economy Minister Amin Salam, on charges of bribery, forgery, embezzlement of public funds, money laundering, and illicit enrichment. Financial Prosecutor Judge Ali Ibrahim interrogated Karim Salam on Thursday and, after hearing his testimony, ordered his detention and referred the case to First Investigative Judge of Beirut, Bilal Halawi. Halawi is expected to question Salam next Tuesday. The indictment stems from a case involving the alleged extortion of an insurance company, which the criminal court had investigated. Judge Samir Akiki, head of the court, had previously requested the conviction of Fadi Tamim, an unofficial adviser to Minister Amin Salam, and referred the case back to the financial public prosecution to take appropriate action against three individuals, including Karim Salam. In December, Lebanon's Special Investigation Commission at the central bank froze Karim Salam's accounts due to irregular transactions. Judicial sources have not disclosed details of the investigation leading to Salam's arrest. However, sources familiar with the case say that when Salam was his brother's right-hand man at the Economy Ministry and the Insurance Control Commission, he misused funds from the commission's treasury. Salam's defense attorneys have questioned the charges, arguing that the investigation was initially limited to the insurance company case and that their client has no connection to those companies. They also expressed surprise that the other two individuals recommended for indictment by the criminal court were not charged and that the Special Investigation Commission's report on Salam's financial transactions was not presented. Additionally, Karim and Amin Salam are reportedly involved in another case concerning their work at the ministry. The parliamentary economy committee referred the case to the Court of Cassation on charges of embezzlement, extortion, public fund misappropriation, and money laundering. The Internal Security Forces' Information Branch is handling the investigation.
