Posted on 01/16/2004 8:31:16 PM PST by blam
Lebanese Authorities Seize Iraq Currency
Saturday January 17, 2004 3:46 AM
BEIRUT, Lebanon (AP) - Lebanese authorities have confiscated billions of new Iraqi dinars from aboard a private plane that came from Baghdad.
Officials said that 19.5 billion dinars, worth about $15 million, were confiscated aboard the Lebanese-owned Magic Carpet plane late Wednesday.
The officials said Thursday that the notes might have been brought to Lebanon to try to trade at money exchange companies.
Lebanon's Financial Prosecutor's office detained three Lebanese businessmen who were aboard the plane for questioning.
The confiscation of the new money came as Iraq's old bank notes - bearing former Iraqi President Saddam Hussein's portrait - became obsolete following a three-month period to exchange them for the new currency.
Magic Carpet, which began chartered flights from Beirut to Baghdad after the collapse of Saddam's government in April, recently resumed flights after a gap in the summer due to attacks on some planes flying to or from Baghdad International Airport.
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