Lebanese businessman Salah EzzeddineYoussef Ajami / EPA
Lebanon's Bernie Madoff: A Scandal Taints Hizballah -- Time Magazine
Business magnate Salah Ezzeddine was known as a pious, generous man. Hailing from a small Shi'ite Muslim town in southern Lebanon, he was a success story among the country's poorest, historically marginalized religious sect. With his reputation for generosity (he built a stadium and a mosque for his hometown of Maaroub, sponsored pilgrimages to Mecca and published children's books), few were suspicious when Ezzeddine promised investors a share of his business with the lure of outstanding returns — from 20% to 40% — and few details of how the plan worked or guarantees or paperwork. Still, what he seemed to have — the implicit backing of Hizballah, the popular anti-Israeli militant group and political party — was as good as gold to its many loyal followers among the Shi'ites of Lebanon.
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