Switzerland is moving forward with an investigation into possible money laundering connected to Lebanon's central bank. The Middle East nation represents the next politically fraught hot spot for Swiss officials.
Lebanon's prosecutor sent initial findings to Swiss officials in connection with an investigation into suspected money laundering at the Middle East nation's central bank, «Reuters» reported, citing state media. The move follows a January request from Switzerland for help probing alleged money laundering and possible embezzlement.
Beirut represents the next hot spot that may backfire for Switzerland: as much as $2 billion reportedly made its way to Swiss offshore accounts, amid a financial and economic crisis. Central bank governor Riad Salameh in January answered questions stemming from the Swiss probe.
Scrutiny After Default
The 70-year-old has been at the helm of Lebanon's central bank since 1993 and came under scrutiny when the country's economy collapsed two years ago. Lebanon's currency crashed and the nation – once known as «Switzerland of the Middle East» – defaulted on its sovereign debt last year.
It isn't clear when Switzerland began investigating the alleged Lebanon illicit money. Because of Salameh's high profile, his involvement in the probe is politically delicate, as «Daraj» reported on Monday.
