Thursday, April 18, 2013

The politics and business of Walid Jumblat (and his ministers)

"Aridi’s financial “bulge” has become the talk of the town and Baissour’s most urgent concern, according to a regular visitor to Jumblatt’s residence in Mukhtara. The minister’s wealth multiplied in the past five years to staggering heights. Some of this money, according to the PSP source, was obtained in partnership with Jumblatt, such as the briefcases full of money he brought from the Saudis. Some of it remained a secret until it was accidently exposed during a meeting between Jumblatt and the owner of the Kempinski – previously known as the Summerland beach resort – located in southern Beirut. According to someone who attended the meeting, Walid Saab, the project’s owner, thanked Jumblatt for covering up his project’s violation of maritime property laws by passing a bill that allowed Kempinski to expand its installations from 28,000 m² to 30,000 m².
Saab asked Jumblatt if he was satisfied with the shares he received, consisting of several chalets in the new resort. Jumblatt looked into the issue and discovered that Aridi’s son had received shares in the project listed in Jumblatt’s name." (thanks "Ibn Rushd")