Ibrahim said that corruption in the real estate sector was one of many instances of corruption in Lebanon.
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A senior judge said Thursday that corruption in the real estate sector wass costing Lebanon up to $40 million a year.Ibrahim said that some employees who appraise the value of sold apartments on some occasions gave lower estimates, thus depriving the Treasury of the real taxes and fees owed on these properties. He added that corruption in the real estate sector is one of many instances of corruption in the country. It said the SIC received 470 suspected cases and investigated 399 of them, adding that 71 cases were still pending, which means that the SIC will determine whether they will be prosecuted depending on the strength of the evidence. The SIC said that out of the cases examined, 163 involved embezzlement of private funds, 63 forgery, 23 terrorism or terrorism funding and 11 fraud.
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