Judge Oueidat wraps up investigations in al-Madina Bank Case

Beirut First Investigative Judge Ghassan Oueidat wrapped up on Tuesday the investigation into the al-Madina Bank case.

In this context, the state-run National News Agency reported that Judge Oueidat is currently preparing to refer the case to the public prosecution.

On May 13, General Prosecutor Judge Hatem Madi handed over to the Central Bank's Special Investigation Commission a list of several people's names on suspicion of being involved in the al-Madina Bank scandal.

The committee was formed when the bank's funds fraud emerged in 2003 to investigate money laundering.

Judge Madi tasked in February the committee to investigate the amount and the reasons of the payments made.

Rana Koleilat, who was accused of playing a key role in the fraud case at al-Madina Bank, revealed in February that she will hand over to Lebanese authorities the names of her accomplices.

During 12 years at al-Madina bank, Koleilat rose from being a clerk to executive.

Koleilat was involved in the scandal that involved al-Madina when the Central Bank announced in July 2003 that it detected a fund deficit at the bank amounting to more than euro 250 million.