Monaco’s probe into Najib Mikati’s alleged money laundering underway

Najib Mikati at the World Economic Forum, 2013

Monaco is continuing its investigation into suspected money laundering by caretaker Lebanese Prime minister Najib Mikati, a newspaper published in Abu Dhabi reported.

The National said Tuesday it has learned from Monaco’s public prosecutor that the investigation, currently ongoing in Monaco, has been entrusted to the judicial police division of the Public Security.

Two years ago, the Pandora Papers — a massive trove of leaked documents showing how the world’s elite is using tax havens and offshore and shell companies to stash assets worth hundreds of millions of dollars — said that Mikati owns a Panama-based offshore company that he used to buy property in Monaco in 2008 worth more than $10 million.

In 2019 Mikati was charged for illicit enrichment in relation to subsidized housing loans but the Lebanese judiciary dropped the case in 2022.

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