Ibrahim said that corruption in the real estate sector was one of many instances of corruption in Lebanon.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
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.
MEA orders four newly launched Airbus A321XLR jets
Lebanese bankers warn of impact of new taxes
Ultimate goal to cut deficit to 4 pct by 2023: adviser
FOLLOW THIS ARTICLE