News / Lebanese Authorities Arrest Ex-Central Bank Governor Riad Salameh for embezzlement

Lebanese Authorities Arrest Ex-Central Bank Governor Riad Salameh for embezzlement

Riad Salameh, the former head of Lebanon's Central Bank, has been arrested on money laundering and embezzlement charges.

03 min read

Riad Salameh, the ex-central bank governor of Lebanon, has been accused of “embezzlement, money laundering, and illicit enrichment” and was arrested on 3 September 2024 in the Capital, Beirut, after a judicial hearing.

He has rejected all allegations.

Investigation of three hours

The official (who asked not to disclose its identity as he has no authority to deliver dialogues to the media) stated that the public prosecutor “arrested Salameh after questioning him for three hours on suspicions of embezzlement from the central bank exceeding $40 million”.

Salameh appeared for the first time in Lebanon’s court since he resigned from his designation after “serving for 30 years” at the end of July 2023, and nobody could replace him.

Reason of Lebanon’s Economic Fall

Salameh has been accused of collapsing Lebanon’s economy by engaging in illicit activities. He is facing multiple accusations such as “embezzlement, money laundering, and tax evasion” and has been investigated in Lebanon and other countries.

Interpol Red Notices to Arrest

Authorities in France wanted Salameh for suspected financial crimes along with issuing “Red notices” by Interpol to find and arrest him. However, Lebanon doesn’t send its nationality holders to other countries for investigation.

Salameh has kept denying his involvement in any accusation of financial crimes.

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Sanctions and Assets Freezing

Lebanon authorities have confiscated Salameh’s bank accounts; the UK, US, and Canada imposed sanctions on him, restricting his operations in the financial sector.

German Court Cancels Arrest Order

The prosecutor stated, “A German court in June canceled an arrest warrant against Salameh because he could no longer use his post to suppress evidence.”

However, the court investigation “confirmed the urgent suspicion with regard to the accusations made against the suspect.”

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