Former Lebanese central bank governor Riad Salameh arrested
The Salameh Papers: Special report into allegations against former Lebanon banking chief Riad Salameh was arrested on Friday at Bhannes Hospital, north of Beirut, after failing to appear before a judge for questioning the previous day. The former central bank governor is accused of financial wrongdoing relating to Banque du Liban transactions and securities purchases involving companies in which…
Former Lebanese central bank governor Riad Salameh was apprehended on Friday by authorities at a hospital north of Beirut, following his failure to appear for questioning the previous day. The 30-year central bank leader is currently under investigation for financial misconduct related to transactions involving Banque du Liban and securities purchases linked to companies with Bank Audi shares.
Salameh had been summoned for questioning on Thursday by Samaranda Nassar of the Court of Cassation, concerning a complaint lodged by current central bank governor Karim Souaid. Prior to Thursday's hearing, Salameh's lawyer Wassim Ghawi submitted a medical excuse for his client's absence, which prosecutors later disputed, and his personal doctor reportedly could not confirm his hospital admission.
After a police search of three known addresses, Judge Ahmad Rami Al Hajj issued an arrest warrant, leading to Salameh's arrest at the hospital. Legal experts, such as Fouad Debs of the Depositors Association, argue that Salameh has been evading justice, contributing to the ongoing financial crisis through various means. It remains uncertain whether Salameh will be transferred from the hospital or face trial.
The former central bank chief faces investigations in Lebanon and abroad, specifically concerning the Forry Associates case involving alleged diversion of millions of dollars and the Optimum Invest case related to French real estate, money laundering, embezzlement, and fraud. Salameh's real estate empire in Europe, valued at approximately $92 million, has been seized by authorities.
Despite denying any wrongdoing, Salameh's reputation suffered a significant decline following Lebanon's financial collapse in 2019, with critics pointing to his role in shaping financial policies that fostered the crisis. Lebanon's judiciary has been criticized for its slow pace of justice and accountability, with Debs expressing disappointment in the arrest, even if viewed as a symbolic gesture.
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