Syrian tycoon says front companies used to dodge sanctions as rift with Assad widens

FILE PHOTO: Syrian President Bashar al-Assad addresses the government committee that oversees measures to curb the spread of the coronavirus disease (COVID-19), in Damascus, Syria in this handout released by SANA on May 4, 2020. SANA/Handout via REUTERS

AMMAN (Reuters) - Syrian businessman Rami Makhlouf revealed on Sunday he had set up a web of offshore front companies to help President Bashar al Assad evade Western sanctions, in a social media post blasting the government for investigating his business empire.

One of Syria's richest and most powerful businessmen, Makhlouf said security forces were now targeting Cham Holding, the centrepiece of a vast business portfolio much of which has been seized by the cash-strapped government.