Investigation into Kulluna Irada Amid Allegations of Financial Manipulation
Judiciary probes Kulluna Erada over economic destabilization and financial manipulation. ©Houna Loubnan

Thirteen days after a number of lawyers filed a complaint against Kulluna Irada on charges of committing criminal offenses related to manipulating the national economy and destabilizing financial markets, Judge Jamal al-Hajjar, the Court of Cassation General Prosecutorreferred the complaint to the Beirut Appeals Court to conduct the necessary investigations.

The controversy began with a group of lawyers who submitted a detailed report, supported by documents and evidence, claiming that Kulluna Irada had overstepped its initial mandate. According to them, the organization, originally founded to promote democratic and economic reforms, had evolved into a politically influential entity, directly impacting the country’s financial decisions.

The complaint accused the association of training social media and media groups to incite the public against the banking system and promote claims of bank failures, which led to panic among depositors and accelerated the collapse of the Lebanese pound.

The report also indicated that the organization pressured the Lebanese government to stop paying Eurobonds, a decision that was considered disastrous for the Lebanese economy.

From a legal standpoint, the authorities will need to determine whether the accusations are valid and whether formal charges should be filed. The investigation could rely on several articles of the Lebanese Penal Code, including Articles 296, 297, 316 and 319, which punish the spread of false information that undermines economic trust, conspiracy against financial markets and manipulation of the national currency.

Kulluna Irada's Evasive Response

In response to these accusations, Kulluna Irada's reaction has been evasive. Albert Kostanian, the former executive president of the organization, avoided commenting on the suspicions of violating the association’s license, simply stating that he had not reviewed the official receipt text of the association.

In an official statement, Kulluna Irada responded to the allegations by adopting an ambiguous position, avoiding direct rebuttals and instead criticizing the media attacks against it.

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