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Ill-gotten gains complaint filed over Lebanon’s alleged corruption and money laundering.
Sherpa and the Collective of Victims of Fraudulent and Criminal Practices in Lebanon have filed an ill-gotten benefits lawsuit in response to Lebanon's suspected money laundering and corruption. The National Financial Prosecutor's Office in France has been notified of the lawsuit. The suspected money laundering involves "the outsourcing of significant resources from the Autumn 2019 crisis onwards and Lebanese authorities purchasing French land in "suspicious circumstances." Sherpa also says that since the mid-1990s, “corruption has been profoundly entrenched in the workings of the Lebanese state.”
According to Transparency International‘s 2020 corruption index, Lebanon is ranked 149th out of 180 nations. Sherpa hopes that the case will help to fight injustice, strengthen the rule of law, and restore properties to Lebanon's people. Banking and financial intermediaries who promote the "systematic use of tax shelters," according to the group, should be kept accountable for their conduct, which is "directly related to the humanitarian crisis that the Lebanese people are currently experiencing."
Lebanon is known as a tax haven for its tax exemptions and high financial secrecy. It is ranked 26th out of 133 countries on the 2020 Financial Secrecy Index. For many years, Lebanon has been grappling with economic difficulties. The Lebanese Pound lost 80% of its worth between October 2019 and October 2021. Basic products have skyrocketed in price in recent years, pushing a significant majority of the population below the poverty line. COVID-19 has a major effect on the citizens' economic well-being. The cabinet resigned in August of last year, only months after taking office, following demonstrations over the explosion at Beirut's shipping terminal, which killed hundreds of people, as well as allegations of corruption.
Sherpa has successfully filed charges in the past. After Sherpa lodged a lawsuit against him, Rifaat al-Assad, Syria's President's uncle, was sentenced to four years in jail by the Paris Correctional Court. Syria's assets were embezzled by Al-Assad, who used them to purchase land in France and other nations.
Tags : COVID-19 , Beirut's shipping terminal, Financial Prosecutor, Money laundering and Corruption
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