Ezzedine Refuses to Declare Bankruptcy as Number of Law Suits Filed against Him Jumps to 16
Financier Salah Ezzedine has refused to declare bankruptcy, saying he was only facing a "staggering" financial crisis.
Ezzedine said he has no knowledge of the value of the total amount of his work in Lebanon and overseas.
He noted, however, that he has ventures and foreign investments "that could yield profit and give depositors their rights, or part of it."
His remarks came during a lengthy court hearing on Thursday for Ezzedine and his business partner Youssef Faour.
Ezzedine continued to deny all charges pressed against him, including fraud and embezzlement.
Ezzedine told the jury that he has $ 100,000 million-worth of investments and deposits abroad, but that he will not be able to get profit before 2010.
"I could then pay my debts," Ezzedine said.