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Swiss regulators asked to investigate three banks in connection to Salameh allegations

Swiss regulators asked to investigate three banks in connection to Salameh allegations

Central Bank governor Riad Salameh. (Joseph Eid/AFP)

BEIRUT – Opposition groups filed a complaint against the Swiss branches of Bank Audi, Bank Med and Julius Baer Bank with Swiss regulators Thursday, requesting “an in-depth investigation” of the three banks on suspicion of money laundering, corruption and illegally assisting Bank Du Liban head Riad Salameh.

Here’s what we know:

•  The Depositors’ Union, Beirut Madinati, Li Haqqi, Taqadoom, Lana, El Shaeb Youkawem el Fasad, who filed the complaint, said that all three banks “appear to have breached their anti-money laundering obligations when assisting the governor of the Central Bank of Lebanon, Salamé, and his entourage to shelter funds which appear to be ill-gotten and derived from corruption.”

•  The groups called on the Swiss Financial Market Supervisory Authority (FINMA) to investigate the three banks, who “all appear to have potentially sheltered corruption funds from Lebanon politicians in a breach of their anti-money laundering obligations.”

•  Salameh’s finances are currently under investigation in France, Germany Liechtenstein and Lebanon.

•  Last month, Mount Lebanon Public Prosecutor Judge Ghada Aoun issued a decision to freeze all Salameh’s real estate and cars.

Correction: An earlier version of this post stated that the complaint was against three banks with Lebanese branches. It is against three Swiss banks.

BEIRUT – Opposition groups filed a complaint against the Swiss branches of Bank Audi, Bank Med and Julius Baer Bank with Swiss regulators Thursday, requesting “an in-depth investigation” of the three banks on suspicion of money laundering, corruption and illegally assisting Bank Du Liban head Riad Salameh.Here’s what we know:•  The Depositors’ Union, Beirut Madinati, Li Haqqi,...