Riad Salameh: From Banking Wizard to Legal Quagmire

Riad Salameh, Lebanon's former central bank governor, has been arrested on fraud charges. Once hailed as a financial genius, his reputation crumbled amid corruption cases and the 2019 banking sector collapse. Investigations reveal alleged embezzlement of public funds, with various countries issuing warrants against him.

Riad Salameh, Lebanon's former central bank governor, was arrested Tuesday on fraud charges. Initially celebrated as a financial expert, his reputation was shattered by domestic and international corruption cases as well as the dramatic collapse of Lebanon's banking sector in 2019.

Authorities allege that Salameh embezzled a significant amount of Lebanese public money during his three-decade tenure. A senior Lebanese judicial source confirmed that the charges are linked to a brokerage firm, Optimum Invest. Both Salameh and his lawyer have yet to respond to these allegations.

Investigations began with a Swiss probe into whether Salameh and his brother Raja misappropriated over $300 million from the central bank. European countries like France, Germany, and the UK have issued warrants for his arrest. Salameh has consistently denied any wrongdoing, attributing the financial collapse to state mismanagement rather than his policies.

(With inputs from agencies.)