The Salameh Papers: Full coverage here
The nephew of Riad Salameh, the former governor of the Banque du Liban (BDL), has been formally charged in Paris in a case involving ill-gotten gains, a source confirmed to The National.
Emile Salameh, 38, son of Raja Salameh, was formally charged on February 12 with criminal conspiracy, money laundering, and receiving stolen goods, following his interrogation before a financial investigating judge, AFP reported.
Through financial arrangements facilitated by his father, he is suspected of having acquired two apartments in Paris and villas in Lebanon.
He is also accused of managing, through a similar arrangement, two companies registered in Britain, which own several properties in London, AFP said.
The National previously identified assets under investigation in Paris based on confidential documents related to Raja Salameh, his father, and his family.
The properties include two apartments bought on Avenue Victor Hugo for €3.6 million in 2013 and on Avenue Raymond Poincare for €1.2 million in 2011.
These apartments have been rented out since their purchase for about €4,000 per month.
“We are nearing the end of the legal journey, and it's not unlikely that further formal charges may arise,” said William Bourdon, one of the lawyers representing the Sherpa association and the Collective Association of Victims of Fraudulent and Criminal Practices in Lebanon as civil parties in the case.
Riad Salameh, with the help of his brother Raja Salameh, is suspected of setting up a money laundering scheme inside the central bank through a 0.38 per cent commission imposed by a shell company, Forry Associates Ltd on commercial banks for each transaction with the central bank.
The commission money is suspected to have been invested in real estate empires in Europe and the US.
About $92 million worth of property has been seized by European authorities.
'Actions attributable to others'
Stéphane de Navacelle, Mr Emile Salameh's lawyer, did not comment on the case's details.
He told The National in an email that his client “has been interviewed in connection with an investigation opened for actions attributable to others and in which he was not involved”.
“Mr Salameh has endeavoured to assist to his full ability the investigators and will continue to do so without restraint. He is confident that the investigation will conclude to no wrongdoing on his part,” Mr de Navacelle said.
Three other people, at least, have been put under formal investigation in France regarding this case: Mr Salameh's former assistant at the BDL, Marianne Hoayek, his former romantic partner, Anna Kosakova, and former minister Marwan Kheireddine.
Raja Salameh, who is the owner of Forry, has not been put under formal investigation. He failed to appear at his hearing in France in 2023 for medical reasons.
It was scheduled straight after the French judiciary issued an arrest warrant for his brother, Riad Salameh in May.
“In our view, Raja is a key player in the organised predation orchestrated by Riad and his clan. He presented a medical certificate to evade his hearing: his lifestyle raises doubts about his claimed inability to travel for health reasons,” Mr Bourdon told The National.
The Salameh brothers have previously denied any wrongdoing, with Mr Riad claiming his wealth was lawfully acquired through investments he made before he was appointed as the BDL Governor in 1993.
He said that he has made his money through his time as an investment banker, investments and other legal ways.
As the long-term head of the central bank, he has been one of the figures held responsible for the 2019 economic collapse in Lebanon that has been blamed on decades of mismanagement and corruption among the country's ruling elite – including its banking sector.
Ms Yang's top tips for parents new to the UAE
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PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
LIGUE 1 FIXTURES
All times UAE ( 4 GMT)
Friday
Nice v Angers (9pm)
Lille v Monaco (10.45pm)
Saturday
Montpellier v Paris Saint-Germain (7pm)
Bordeaux v Guingamp (10pm)
Caen v Amiens (10pm)
Lyon v Dijon (10pm)
Metz v Troyes (10pm)
Sunday
Saint-Etienne v Rennes (5pm)
Strasbourg v Nantes (7pm)
Marseille v Toulouse (11pm)
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The five pillars of Islam
COMPANY%20PROFILE%20
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65
%3Cp%3E%3Cstrong%3EDirectors%3A%20%3C%2Fstrong%3EScott%20Beck%2C%20Bryan%20Woods%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EAdam%20Driver%2C%20Ariana%20Greenblatt%2C%20Chloe%20Coleman%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3C%2Fp%3E%0A
Company%20Profile
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UAE currency: the story behind the money in your pockets
FIGHT%20CARD
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
The biog
Name: Salem Alkarbi
Age: 32
Favourite Al Wasl player: Alexandre Oliveira
First started supporting Al Wasl: 7
Biggest rival: Al Nasr
Heather, the Totality
Matthew Weiner,
Canongate
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
Profile
Company name: Marefa Digital
Based: Dubai Multi Commodities Centre
Number of employees: seven
Sector: e-learning
Funding stage: Pre-seed funding of Dh1.5m in 2017 and an initial seed round of Dh2m in 2019
Investors: Friends and family
The%20specs
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Kill%20
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Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
ESSENTIALS
The flights
Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes.
The trip
From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.
Zayed Sustainability Prize
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
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Fifa Club World Cup quarter-final
Esperance de Tunis 0
Al Ain 3 (Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)
EVIL%20DEAD%20RISE
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Director: Shady Ali
Cast: Boumi Fouad , Mohamed Tharout and Hisham Ismael
Rating: 3/5
The%20pillars%20of%20the%20Dubai%20Metaverse%20Strategy
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