Embezzlement Charges and International Probes: The Downfall of Lebanon’s Ex-Central Bank Governor

Lebanon has charged Riad Salameh, its former central bank governor, with embezzling USD 42 million. This comes after Salameh's detention and interrogation over multiple alleged financial crimes. Despite denying the charges, Salameh faces both local and international probes, including from France, Germany, and Luxembourg, and sanctions from the US, UK, and Canada.

The former central bank governor of Lebanon, Riad Salameh, has been charged with embezzling USD 42 million, multiple judicial officials informed The Associated Press on Wednesday.

Salameh, 73, was charged by the Financial Public Prosecution following a detention and interrogation by Lebanon's top public prosecutor regarding various alleged financial transgressions. His case has now been moved to an investigating judge. Salameh, who ended his 30-year term as governor a year ago amidst a financial crisis and multiple investigations, has consistently denied corruption allegations, attributing his wealth to inheritance and investments.

During recent interrogations, Salameh was questioned about his role in hiring a company known as Optimum, allegedly to manipulate financial statements and facilitate embezzlement from the central bank. Meanwhile, Salameh remains under sanction by the US, UK, and Canada, with France issuing an international arrest warrant. However, Lebanon has not appointed a new central bank governor since his departure and is currently managed by an acting governor, Wassim Mansouri.

(With inputs from agencies.)