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First with the News

Lebanon: Ex-Central Bank Chief Arrested For Embezzlement

September 3, 2024
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By Emmanuel Nduka

A former central bank governor in Lebanon , Riad Salameh was arrested on Tuesday after being questioned over alleged embezzlement, a judicial official told AFP.

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The public prosecutor “arrested Salameh after questioning him for three hours on suspicions of embezzlement from the central bank exceeding $40 million”, the official said, requesting anonymity as they were not authorised to speak to the media.

This is the first time Salameh has appeared before Lebanon’s judiciary since he left his post of 30 years at the end of July last year without a successor.

Largely viewed as a key culprit in Lebanon’s dramatic economic crash, Salameh faces numerous accusations, including embezzlement, money laundering and tax evasion in separate probes at home and abroad.

Salameh is wanted by authorities in France for alleged financial crimes, with Interpol issuing Red Notices targeting him. Lebanon does not extradite its citizens.

He has repeatedly denied any wrongdoing.

Lebanon has frozen Salameh’s bank accounts, while Britain, Canada and the United States have slapped sanctions on the former official.

In June, a German court cancelled an arrest warrant against Salameh because he could no longer use his post to suppress evidence, prosecutors said.

The court ruling, however “confirmed the urgent suspicion with regard to the accusations made against the suspect”.

 

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