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Lebanon judge freezes assets of five banks and members of their boards

by Mike Robinson

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© Reuters. FILE PHOTO A view of the Lebanese Blom Bank headquarters in Beirut (Lebanon), July 9, 2018, is shown. REUTERS/Mohamed Azakir/File Photo

BEIRUT (Reuters] – The assets and boards of five Lebanese banks were frozen by a judge while she investigated transactions the bank’s officials made. A judicial document was released Monday.

Bank of Beirut is a bank that includes SGBL and Blom Bank. It also applies to property, vehicles, and shares of companies controlled by these banks.

The accused parties were not charged.

Raya Hassan (chairman of Bankmed’s board) declined to comment. Saad Azhari, Blom Bank Chairman, and Bank Audi spokesperson also declined to comment.

Bank of Beirut (SGBL) did not respond immediately to inquiries for comment.

According to Reuters, Judge Ghada Aoun placed travel bans on the heads at the banks of the five Lebanese branches as a precautionary step during her investigation.

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