The former governor of the Bank of Lebanon (BDL), Riad Salamé, suspected of corruption in his country and abroad, was arrested on Tuesday in Beirut, a judicial source told AFP.
Riad Salamé, 74, was “arrested after being questioned for three hours by the attorney general on suspicion of embezzlement of BDL funds exceeding 40 million dollars”said the source, who requested anonymity. Riad Salamé was governor of the central bank from 1993 until July 2023, and many blame him, along with political leaders to whom he is closely linked, for the collapse of the economy in Lebanon.
Suspected of massive embezzlement of Lebanese public funds and of having built up a rich real estate and financial heritage, the former Franco-Lebanese banker denies any wrongdoing. This is the first time he has appeared in court since his term expired on July 31, 2023. No successor has been found for him due to the political crisis in the country, and the first vice-governor, Wassim Mansouri, has since been tasked with filling in for the interim.
Since 2016, Riad Salamé has been involved in financial arrangements compared to a «Ponzi pyramid»and at the end of 2019, the collapse began, causing the Lebanese pound to lose more than 98% of its value and depriving savers of any access to their savings in banks. Riad Salamé, who did not respond to a summons from a French judge in May 2023, has since been the subject of an international arrest warrant. Lebanon refuses to extradite its nationals.
The German justice system, for its part, cancelled an arrest warrant against Riad Salamé last June, without however completing the investigation against him. The United States, Canada and the United Kingdom have imposed economic sanctions for corruption against him, Washington considering that his “Corrupt and illegal actions contributed to the collapse of the rule of law in Lebanon”.
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