The financier Salah Ezzedine heads one of Lebanon's mostprominent publishing houses of religious books. EPA
'Lebanon's Madoff' Bankrupted After Bouncing $200,000 Cheque To Hizbollah -- The Independent
Businessman promised customers a 40 per cent return on their investment.
Everyone trusted Salah Ezzedine. A billionaire Shia Muslim businessman and financier from southern Lebanon, he organised pilgrimages to Mecca, ran a major Beirut publishing house and a children's television station, held major investments in east European oil and iron conglomerates, and – much more to the point – was a close personal friend of very senior leaders of the Hizbollah. Indeed, many members of the world's most powerful and successful guerrilla movement, along with the families of their "martyrs" in the war against Israel, placed both their faith and their inheritance in Mr Ezzedine's hands.
Everyone trusted Salah Ezzedine. A billionaire Shia Muslim businessman and financier from southern Lebanon, he organised pilgrimages to Mecca, ran a major Beirut publishing house and a children's television station, held major investments in east European oil and iron conglomerates, and – much more to the point – was a close personal friend of very senior leaders of the Hizbollah. Indeed, many members of the world's most powerful and successful guerrilla movement, along with the families of their "martyrs" in the war against Israel, placed both their faith and their inheritance in Mr Ezzedine's hands.
Read more ....
My Comment: This scandal hits the Hezbollah elite directly. It also ruins the financial security promised to those families whose husbands/sons were killed when fighting Israel.
No buildings were bombed or peopled killed. But the effects of this scandal is one in which numerous families have been destroyed, and its impact is going to be long lasting.
It also ruins Hezbollah's image of being squeaky clean and morally true when it comes to finances .... an image that they have consistently pushed throughout the Middle East.
But promising a 40% annual return on investments .... please ....
Read more ....
My Comment: This scandal hits the Hezbollah elite directly. It also ruins the financial security promised to those families whose husbands/sons were killed when fighting Israel.
No buildings were bombed or peopled killed. But the effects of this scandal is one in which numerous families have been destroyed, and its impact is going to be long lasting.
It also ruins Hezbollah's image of being squeaky clean and morally true when it comes to finances .... an image that they have consistently pushed throughout the Middle East.
But promising a 40% annual return on investments .... please ....