George Zard Abou Jaoude

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Accused Before the Courts in USA And Lebanon

Charges: Narcotics Trafficking and Money Laundering

Job: architecture – businessman

Born in Jal El Dib on February 27, 1952, He graduated from the American University of Beirut with a BA in architecture , started his real estate career in Saudi Arabia in 1976 after graduating from the American University of Beirut (AUB) with a Bachelor of Arts Degree in Architecture. From 1976 to 1988, developed over 20 architecture and interior design projects.

Abou Jaoude is a major shareholder in Renaissance Holding’s, BeitMisk and also CEO & Owner of GZA Group is one of the largest real estate developments in Lebanon for Renaissance Holding’s,located in the heart of Mount Lebanon.

Construction of the project is financed by chairman of the Lebanese Canadian Bank (LCB) – Georges Zard Abou Jaoude, who is Renaissance Holding’s major shareholder. LCB will finance 40 percent of the project.

A shareholder and board member of Ledges Real Estate Company.

He is also the man behind Zardman, a real estate company,

Abou Jaoude acquired the majority of shares at the Royal Bank of Canada in the Middle East in 1988 and thus the Lebanese Canadian Bank came to exist. He became the Chairman and general manager of the LCB until 2010, Abou Jaoude regularly attended courses at both INSEAD and Harvard.

Accusations

In 2011 The US Government accused the bank which was under his control for Drug Trafficking and Money Laundering.

in 2015 Ghazi Abu Nahl and NEST Investments Holdings Lebanon and other shareholders of LCB, accused Abou Jaoude for an international money laundering, they fill lawsuits in courts of USA and Lebanon against him.

The shareholders of the bank accused Abou Jaoude for using the bank funds for personal purposes, and disposal of assets of the bank beyond the law, intimidating shareholders, giving them false or incomplete information, which led to the rush to sell the bank for 580 Million, without re-evaluating the assets of the bank, knowing that the market value of the market was more than one billion dollars,

they accused him too for stealing the shareholders savings by taking big salaries as a liquidator (2 million yearly).

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