Lebanese Madoff Update

The Lebanese press is being very closed-mouthed about the true nature of the Lebanese Shi`ite Madoff, Salah `Iz Ad-Din, who has political (and financial) connections with Hizbullah and Amal. But there are small investors who lost their life savings too. The estimate of the loss ranges between $500 million to $1.5 billion. My sources tell me it is upward of that figure and that political pressures are behind keeping the case secret. As-Safir and Al-Akhbar has provided some coverage but nothing extensive. No one is talking. I am not sure that the man is under arrest as some people have said.