Salah Ezzedine
Salah Ezzedine | |
|---|---|
| Born | 1962 (age 61–62) |
| Nationality | Lebanese |
| Occupation | Businessman |
Salah Ezzedine (born in 1962[1] in South Lebanon) is a Lebanese businessman who is accused of running a pyramid scheme. He had supposed investments in oil, publishing, metals and television, and his businesses spread out from the Gulf to Africa.[2] He was well known as a philanthropist.
Before the fraud scandal occurred, he was known for his generosity and had even built a stadium and a mosque for his hometown of Maaroub.[3]
In the ensuing debacle, financial downfall and declaring of his bankruptcy, Lebanese investors, mostly from the Shia community lost hundreds of million dollars. Amounts involved vary between $700 million to 1.2 billion dollars was lost by Lebanese investors[4] .[5]
References[edit]
- ^ Liberation: Salah Ezzedine, le «madoff» libanais (in French)
- ^ Andrew Lee Butters in Time magazine: Lebanon's Bernie Madoff - A Scandal Taints Hizballah
- ^ "Time article". Retrieved 21 November 2016.
- ^ Billion-Dollar Pyramid Scheme Rivets Lebanon
- ^ Robert Fisk in The Independent: 'Lebanon's Madoff' bankrupted after bouncing $200,000 cheque to Hizbollah