As the Central Inspection Bureau readies to submit its 90-page report, disclosing details relating to the blatant squandermania committed by the head of the Central Fund of the Displaced, MTV managed to get a copy of the document.

According to the report, Fadi Aramouni, squandered an amount rising to over LL44 billion throughout a 30-month period (between June 13, 2011 and December 10, 2013). In fact, Aramouni orchestrated a one-man show consisting of shady contracts that were all concluded without the approval of neither the cabinet nor the Ministry of the Displaced. 

The report depicts how Aramouni used to outsmart the regulations in force, being vigilant over not exceeding the amount set as a ceiling budget for the head of the fund to conclude a contract without having to obtain the cabinet’s prior approval. Aramouni clinched each of his fishy deals within an upper limit that is equal to LL500 million. In other words, he used to evade accountability by portioning one project into several sub-projects (contracts), amounting each to LL500 million.

The report also indicates that Aramouni used to assign several projects simultaneously to one contractor, sometimes in areas that have never experienced any sort of exodus or displacement. According to the report, five contractors were granted more than 85% of the assigned projects, noting also that quality standards were not met.

Moreover, Aramouni’s “miscellaneous costs” rose to over LL40 million in 2011 and LL25 million in 2013 as he gave gratuities to non-staff individuals and spent extravagant sums in exchange for flowers, lunch banquets and greeting cards.

The report also tackles the fund-owned thirty vehicles, noting that almost one-third is out of service. Other costs have been also afflicted upon the state’s treasury: LL75 million as parking lot rent, LL30 million as insurance fees and LL70 million as gasoline costs.

All of the above-mentioned findings represent just the tip of the iceberg. All eyes will be fixed on how this report will be dealt with, noting that it suggests referring Aramouni to the Financial Prosecutor and the Audit Bureau as well as recollecting some of the squandered funds and terminating contracts with counselors. The report will above all demand shutting down the so-called Central Fund of the Displaced.