Lebanon charges Ezzedine with embezzlement

The Lebanese authorities on Saturday charged businessman Salah Ezzedine, dubbed the “Lebanese Madoff” in the local media, with embezzlement. Mr Ezzedine’s case involves hundreds of millions of dollars and has been called a Ponzi scheme by several officials.

Mr Ezzedine, a Shia Muslim, was close to senior members of the armed Shia Hizbollah movement, which plays an important political and military role in the country. The party has confirmed to the Financial Times that prominent Hizbollah MP Hussein Haj Hassan was among the investors with Mr Ezzedine.

MP was one of the first people to file a complaint against the businessman, sparking the probe. Hizbollah then “helped” Mr Ezzedine surrender to the authorities.