Lebanese media outlets have reported this morning about the disappearance of $100 million from Lebanon’s Central Bank.
According to the Lebanese news site “Al-Nashra,” there are reports of the Lebanese judiciary launching an investigation into the missing funds, involving Lebanon’s Central Bank and the special investigation authority led by acting governor, Riad Salameh.
They have handed over all relevant documents specified in a report by Alvarez & Marsal since September 2023, including files related to what is referred to as the consultancy account, valued at over $100 million.
The Lebanese website highlighted that the recently appointed Prosecutor General, Judge Jamal El-Hajjar, is overseeing the investigation into these matters.
Additionally, a judicial source disclosed to “Al-Anbaa” newspaper that reports and accounts suggest the disappearance of more than USD 100 million, raising suspicions of money laundering, forgery, and misappropriation of public funds.
The source clarified that next week, the Prosecutor General will meet with officials from Lebanon’s Central Bank, including experts in financial transactions, to elucidate how these amounts vanished without appearing on expenditure lists.
Following this, El-Hajjar will summon the account holders implicated, commence interrogations, and take appropriate legal actions based on the investigation’s findings.
It is noteworthy that Lebanon is burdened with a debt exceeding $90 billion, roughly equivalent to 170% of the country’s GDP.
Typically, in such circumstances, Lebanon would seek support from the International Monetary Fund (IMF) while simultaneously negotiating with creditors to settle outstanding dues.
