By In a dramatic turn of events that underscores the ongoing financial turmoil in Lebanon, former central bank governor Riad Salameh was arrested on Tuesday following a judicial hearing in Beirut. The arrest marks a significant development in the complex web of legal challenges facing Salameh, who for three decades was at the helm of Lebanon’s financial system.
Salameh’s arrest came after a three-hour questioning session, during which he faced allegations of embezzlement from the central bank exceeding $40 million, according to a judicial official who spoke to AFP on condition of anonymity. This marks the first time Salameh has appeared before Lebanon’s judiciary since he left his post at the end of July last year, departing without a successor after a 30-year tenure.
The former central bank chief faces a litany of charges in Lebanon, including money laundering, embezzlement, and illicit enrichment. These domestic charges are compounded by international legal pressures, with Salameh wanted by authorities in France for alleged financial crimes. Interpol has issued Red Notices targeting him, although Lebanon’s policy of not extraditing its citizens provides him some protection from international prosecution.
Salameh’s fall from grace is particularly striking given his once-revered status in Lebanon’s financial circles. Now, he is widely viewed as a key figure in the country’s dramatic economic crash. The severity of the allegations against him is reflected in the actions taken by various nations: Lebanon has frozen Salameh’s bank accounts, while Britain, Canada, and the United States have imposed sanctions on the former official.
The legal saga surrounding Salameh has taken various turns across different jurisdictions. In June, a German court cancelled an arrest warrant against him, citing that he could no longer use his official position to suppress evidence. However, the court maintained that there remained “urgent suspicion with regard to the accusations made against the suspect,” leaving the door open for further legal action.
Throughout the mounting accusations and legal challenges, Salameh has consistently denied any wrongdoing. His arrest, however, suggests that Lebanese authorities are moving forward with their case against him, potentially setting the stage for a high-profile trial that could shed light on the inner workings of Lebanon’s financial system during its economic collapse.
The arrest of such a prominent figure in Lebanon’s financial landscape sends shockwaves through a country already grappling with severe economic challenges. It raises questions about the accountability of high-ranking officials and the potential for further investigations into the management of Lebanon’s finances during its economic crisis.
