The Bank of Lebanon issued the following statement: As part of its absolute commitment to protecting the funds and assets of the Bank of Lebanon, and in continuation of its consistent approach to combating corruption, it announces the filing of two new criminal cases against a former official of the Bank of Lebanon, and a number of former banking officials who held senior executive positions in commercial banks, in addition to a person who presented himself as an investor in the banking sector, before the competent Lebanese judicial authorities. These two lawsuits come as part of an ongoing strategy adopted by the Bank of Lebanon to track down and recover all its embezzled funds, by all available legal means, inside and outside Lebanon, with the aim of returning these funds to the owners of the rights to them, especially the depositors. According to the facts, evidence and documents stated in the two lawsuits, it is clear that these defendants have exploited their positions, whether within the Bank of Lebanon or in decision-making positions in prestigious banking institutions, to implement a coordinated, pre-conceived and designed plan, the goal of which is to transfer funds belonging to the Bank of Lebanon and use them in operations that have no connection to the legal and regulating tasks of the Central Bank or to the goals for which those funds were allocated. Rather, on the contrary, it led to the waste of the Bank of Lebanon’s funds for private benefits. Financial and functional, which caused serious damage to the Bank of Lebanon, its reputation, and the public interest. Therefore, the actions of these people, if proven before the competent judiciary, constitute crimes of fraud, breach of job duties, illicit enrichment, embezzlement of funds, bribery, and forming an organized criminal organization, in conjunction with other persons and legal advisors inside and outside Lebanon, who contributed, knowingly, willingly, and with certainty, to planning and preparing these acts, facilitating them, concealing their effects, or providing legal and institutional cover for them. The Bank of Lebanon stresses that the primary purpose of these measures is not to impose penalties on the perpetrators by the judiciary and put them in prison, but rather to achieve financial justice, recover all the stolen rights and funds, and obtain the maximum possible compensation for the damage caused to the bank. In this context, the Bank of Lebanon confirms that these two lawsuits are directed exclusively against the natural persons who committed these acts, and do not in any way target the commercial banks in which they worked or assumed responsibilities within them. The Bank of Lebanon renews its confidence in the current managements and CEOs of the commercial banks in which some of these defendants worked, and considers them an essential partner in implementing the banking sector reform program, enhancing compliance, and rebuilding confidence in the Lebanese banking system. The Bank of Lebanon confirms that it will continue, without hesitation or exception, to take all necessary legal measures to prosecute anyone proven to be involved in any assault on the bank’s funds, misuse of authority, or exploitation of the position to achieve illegal benefits.