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Top related persons:
Riad Salameh - 1 Salameh - 1 LBCI - 1 Nasser Saidi - 1 Raja - 1 Salameh's - 1 Marianne Howayek - 1 Howayek - 1
Top related locs:
BEIRUT Lebanese Lebanon Banque Salameh France Germany
Top related orgs:
Banque du Liban - 1 Forry Associates - 1 Central Bank - 1 Thomson - 1

Search resuls for: "Forry Associates"


4 mentions found


☆ Lebanon's veteran central bank chief leaves post with legacy in shreds
  + stars: | 2023-07-30 | by ( Maya Gebeily Laila Bassam | Maya Gebeily | Laila Bassam | ) www.reuters.com   time to read: +6 min
CENTRAL BANK 'SHATTERED'It has marked a dramatic reversal for a man once seen as a possible president. After taking the helm of the central bank, Salameh built a reputation as a competent steward of the financial system. The central bank, known as Banque du Liban (BDL), has always said the operations were legal. Defending his record on Wednesday, Salameh said the central bank had contributed to "establishing economic stability and development" during 27 years of his tenure. "Neither directly nor indirectly did any money from the Central Bank go to Forry," Salameh said in Wednesday's interview.
Persons: Riad Salameh, Salameh, LBCI, Nasser Saidi, Raja, Salameh's, Marianne Howayek, Howayek, Friederike Heine, Tom Perry, Toby Chopra Organizations: Reuters, Banque du Liban, Forry Associates, Central Bank, Thomson Locations: BEIRUT, Lebanese, Lebanon, Banque, Salameh, France, Germany
☆ Lebanon central bank chief's brother questioned at European fraud probe hearing
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +2 min
In a nearly five-hour session in which Raja was questioned about his brother's wealth, he told investigators that Forry was solely owned by him. He said $155 million in funds he amassed came from investment profits made over ten years from accrued interest and foreign exchange transactions. The documents say prosecutors suspect Riad used fake banking documents in Raja's name to cover up illicit sources of wealth. The European investigators are also set on Friday to question caretaker finance minister Youssef el-Khalil , who still serves as the central bank's head of financial operations. French prosecutors have informed Riad that they intend to press charges of fraud and aggravated money laundering during a planned hearing in France on May 16.
☆ Swiss regulator investigates 12 banks in Lebanese central banker corruption case
  + stars: | 2023-02-27 | by ( ) www.reuters.com   time to read: +2 min
ZURICH, Feb 27 (Reuters) - Switzerland's financial regulator has investigated 12 banks and launched enforcement proceedings against two of them in relation to corruption charges against longtime central banker Riad Salameh, it said on Monday. Lebanese authorities charged Salameh, his brother Raja and one of his assistants on Thursday with money laundering, embezzlement and illicit enrichment after months of delay in the high-profile case. The Swiss Financial Market Supervisory Authority (FINMA) on Monday said it has investigated 12 banks in relation to allegations of money laundering linked to the case. FINMA declined to comment on the nature of the enforcement proceedings in this case, or the banks involved. The Salameh brothers are alleged to have transferred $330 million to Swiss accounts via the offshore company Forry Associates, which is registered in the British Virgin Islands, Swiss newspaper SonntagsZeitung newspaper reported.
☆ European prosecutors hear Lebanese bankers in c.bank commission probe
  + stars: | 2023-01-20 | by ( Laila Bassam Timour Azhari David Gauthier-Villars | Laila Bassam | Timour Azhari | ) www.reuters.com   time to read: +3 min
BEIRUT, Jan 20 (Reuters) - Lebanese bankers told European prosecutors they believed that commissions now at the centre of a graft probe had been paid to the central bank, four sources said, while investigators suspect the cash illegally ended up with the governor's brother. They suspect central bank governor Riad Salameh and his brother Raja illegally took more than $300 million from the central bank between 2002 and 2015 and invested some of the funds in Europe. The bankers and officials told the visiting European prosecutors that they were not aware that the funds had gone to Forry Associates, the four sources said. The four sources said former central bank officials and private bankers had told the European prosecutors they first heard of Forry Associates when the investigation began and the name appeared in the media. A separate but related Lebanese probe charged Riad Salameh with illicit enrichment in March, which he has denied.
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