💨 Abstract

Lebanon's central bank aims to recover embezzled public funds to ensure liquidity. Governor Karim Souaid announced criminal complaints against unnamed former officials, bankers, and lawyers involved in illicit enrichment via offshore shell companies. The bank will collaborate with French investigators, targeting Forry Associates, linked to former governor Riad Salameh's brother. Souaid plans to travel to France to share sensitive information. The bank seeks to seize assets and convict those involved to restore funds to depositors.

Courtesy: Reuters