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Report: Lebanon judge freezes assets of 5 banks during probe

BEIRUT (AP) — A Lebanese judge has frozen the assets of five of Lebanon’s largest banks and those of their board of directors as she investigates possible transfers of billions of dollars aboard during the country’s economic meltdown. The state-run National News Agency says the judge’s decision covers real estate, vehicles and shares owned in other companies. Monday’s move came days after the judge imposed travel bans on the governors of the five banks. Lebanese banks have imposed informal capital controls since the economic meltdown began in October 2019 after decades of corruption and mismanagement by the country’s political class.

Article Topic Follows: AP National Business

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The Associated Press


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