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Newspaper boss charged over money report
Lebanon, Local, 9/30/1997
A public prosecutor dealing with financial fraud on September 29 charged the director of an Arabic daily newspaper with publishing false news which "undermines trust in Lebanon's currency," judicial officials in Beirut said.
Judge Ahmed Takiedin said the report run by Al Dyar newspaper on Saturday "falsely claimed that the central bank had sold 600 million US dollars of its reserves to stabilize the pound's exchange rate against the US dollar."
He also quoted the paper as claiming that the dollar would soon be traded for 3,000 Lira Lebanese if the government crisis over prime minister Rafik Hariri's 800 million US dollars social development plan persisted.
Takeidin demanded Al Dyar's director, Youssed Howayck, be given a two-year jail sentence and a 100 million US dollars fine.
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