by Nada Maucourant Atallah – thenationalnews — Monaco is continuing its investigation into Lebanon’s billionaire caretaker Prime Minister Najib Mikati over allegations of money laundering, the principality’s general prosecutor has confirmed exclusively to The National. This will proceed despite the Lebanese judiciary dropping its own separate probe into allegations of fraud connected with a subsidised housing loans scheme that was alleged to involve members of the Mikati family. “An investigation is currently ongoing in the Principality of Monaco and it has been entrusted to the judicial police division of the Public Security,” the Monaco General Prosecutor’s Office said. Officials could not provide further information “at this stage”, the office said.
Monaco requested mutual legal assistance in January last year from Lebanese authorities in its investigation into Mr Mikati and his relatives over allegations of money laundering in relation to the subsidised loans. Mr Mikati is connected to three companies in Monaco, including SAM M1 management, and had, according to the request, several bank accounts in the principality — which have been closed. Lebanon opened its own investigation into the housing loans case in 2019, after allegations that politicians and affluent individuals benefited from fraudulent central bank-subsidised loans. According to the allegations, these included members of the Mikati family. The file stayed for two years with Beirut’s First Investigative Judge Charbel Abou Samra. But Lebanon’s top prosecutor Ghassan Oueidate informed Monaco in March last year that the local investigation had been dropped the previous month. He said the case “ended with the submission of the documents to Beirut investigative judge, who issued a motion to dismiss and that this decision is definitive”, in the letter seen by the National.