Brian Nelson, the US Treasury Undersecretary for Terrorism and Financial Intelligence, has disclosed that Lebanese banks allowed certain clients from the political elite to transfer over $456 million to their offshore accounts since October 2019. Nelson spoke during a conference call held to discuss the sanctions slapped on Raymond and Teddy Rahma, and their businesses in Lebanon and the UAE. He explained that the sanctions resulted from the use of their company to secure energy contracts through opaque means. The action aims to support the Lebanese people seeking to escape corruption and mismanagement. According to local reports, the two Rahma brothers faced charges previously launched once morest them by the Lebanese judiciary. The charges related to a corrupt system established over some years to edit the results of fuel tests through bribes and other benefits. In remarks delivered to Al-Hurra, Nelson denied that the sanctions aimed to target Suleiman Franjieh, a presidential candidate close to the Rahma brothers. He emphasised that the sanctions served to demonstrate accountability and the rule of law in Lebanon, regardless of political or religious affiliation. Nelson concluded his statement by pledging to bring to justice those who benefitted from corruption, money laundering, and who threatened the Lebanese people.
Brian Nelson, the US Treasury Undersecretary for Terrorism and Financial Intelligence, revealed that since October 2019, Lebanese banks have allowed some clients from the political elite to transfer at least $456 million to their accounts abroad.
Nelson said in a conference call devoted to talking regarding the sanctions imposed by the Treasury Department on the brothers Raymond and Teddy Rahma and their companies in Lebanon and the UAE, that “the Lebanese elites ignored the public’s calls for transparency and reform while protecting their assets from decline by transferring their private funds outside the country.” The Lebanese have a deteriorating energy infrastructure due to a lack of action on reforms, mismanagement and endemic corruption.
Nelson explained that the US Treasury Department imposed sanctions on the two brothers, Raymond and Teddy Rahma, because they “use their company to secure energy contracts through a very opaque process. The sanctions aim to support those in Lebanon who wish to get out of the corruption and mismanagement that pushed Lebanon into this crisis.”
Nelson indicated that the Lebanese judiciary had previously charged the two Rahma brothers. He said, “The initial charges once morest the Rahma brothers and their companies, which were not pursued by the Lebanese prosecution, refer to a system that was put in place over years to falsify the results of fuel tests in return for bribes ranging between $200 and $2,500 for each field sample, not to mention the gifts of watches, neckties, handbags, and ounces of gold.” In addition to trips abroad among others, according to the local press.
In response to a question by Al-Hurra regarding whether these sanctions are related to the presidential elections in Lebanon and that the United States wants behind them to send a message to the presidential candidate, Suleiman Franjieh, who is close to the two brothers, Rahma, the US Treasury Undersecretary said: “The sanctions have nothing to do with the presidential elections at all. This measure focuses on Showing the consequences for the elites that continue to engage in corrupt practices in Lebanon.I think my colleague Assistant Secretary of State Barbara Leaf also said that this is a very urgent need for Parliament to elect a president and form a government and implement important economic reforms in order to get Lebanon back on the road to recovery.So we are encouraged This is completely the case, but this measure once more focuses only on showing the real consequences of these elites who have been involved in corrupt practices in Lebanon.”
“Yesterday’s ratings highlight how corruption is particularly rampant in the electricity sector. Despite officials’ pledge to improve the provision of power cuts, darkness still covers most parts of the country and impedes the provision of basic services,” he stressed. “Through sanctions, we make it clear that the United States government prioritizes accountability and the rule of law in Lebanon, regardless of political or religious affiliation,” he stressed.
The US Undersecretary of the Treasury concluded by sending a message to the Lebanese people, saying, “Our message to the Lebanese people is that the United States hears and calls for transparency and accountability for those who choose between continuing corrupt practices or bringing regarding change now, and we will continue to punish those who benefit from corruption, money laundering, and threats to the Lebanese people.”
In conclusion, the US Treasury Department’s sanctions on the Rahma brothers and their companies have shed light on the corruption that has plagued Lebanon’s elite for far too long. It is concerning that Lebanese banks have allowed clients from the political elite to transfer millions of dollars abroad while the infrastructure in the country suffers due to mismanagement and corruption. These sanctions are not related to the presidential elections, but rather a call for transparency and accountability in Lebanon. The United States government prioritizes accountability and the rule of law, and through these sanctions, it is evident that they will continue to punish those who benefit from corruption and threaten the Lebanese people. The message to the Lebanese people is clear- it is time for change, and it is time for transparency and accountability.
