EU countries freeze assets worth $130m in Lebanon probe

France, Germany and Luxembourg have frozen more than $130 million (€120 million) in assets linked to a probe into money laundering in Lebanon, a major EU crime agency said on Monday.

The move comes as Lebanon struggles with a crippling economic crisis since 2019 that is rooted in years of corruption and mismanagement and has persisted as solutions continue to be hampered by the political establishment.

Who has the EU targeted in the probe?

The EU Agency for Criminal Justice Cooperation (Eurojust) said the investigation involved five unidentified individuals accused of money laundering.

It added that they are suspected of embezzling public funds in Lebanon amounting to over $330 million from 2002 and 2021.

A week earlier, the first charge was brought against Lebanon's longtime central bank governor, Riad Salameh, for illegal enrichment and money laundering during the economic crisis.

But Eurojust did not make clear that the investigation was related to Salemeh, who is also being investigated by at least five countries for suspected embezzlement. 

The crime agency said the suspects in the main investigation "are assumed to be innocent until they have been proven guilty, according to law."

How much did each country freeze?

Germany seized assets worth more than €35 million and Luxembourg an estimated €11 million across several bank accounts, according to the agency.

France seized assets worth at least €18.2 million euros and bank accounts worth €46 million euros in Monaco. The French authorities also seized a building in Brussels worth €7 million.

A Lebanese banker told the AP news agency on the condition of anonymity that the Eurojust statement "did not give any hint, or proof or a fact that the assets frozen are linked or related in any way into Forry's operations," though he did recognize the similarity in figures mentioned.

fh/rt (AFP, AP)