Former Banque du Liban governor Riad Salameh in Beirut, Dec. 20, 2021. (Credit: Joseph Eid/AFP)
Salameh is under investigation in Lebanon and at least four European countries. The allegations against him include embezzling hundreds of millions of dollars from the central bank to the detriment of the Lebanese state and laundering these funds abroad. Salameh has consistently denied all accusations.
Here are five key facts about the former central bank governor:
1. Lengthy tenure at the central bank: Salameh, 74, served as the governor of Lebanon’s central bank from 1993 until July 2023. Starting in 2016, he implemented financial schemes that some analysts have compared to a Ponzi scheme.
2. Economic collapse: Lebanon’s economic collapse began in late 2019, causing the Lebanese pound to lose more than 98 percent of its value and blocking depositors from accessing their bank savings. Many blamed Salameh, along with the political leaders closely associated with him, for this crisis.
3. Allegations of embezzlement and sanctions: The former central bank governor is suspected of large-scale embezzlement of Lebanese public funds and amassing significant real estate and financial assets in Lebanon and abroad. The United States, Canada and the United Kingdom have imposed economic sanctions against him for corruption, with Washington stating that his “corrupt and unlawful actions have contributed to the collapse of the rule of law in Lebanon.” Salameh, however, denies any wrongdoing.
4. International legal troubles: In May 2023, Salameh failed to respond to a summons from a French judge, resulting in an international arrest warrant being issued. Despite this, Salameh has not been arrested, as Lebanon refuses to extradite its citizens. In June 2023, German authorities canceled an arrest warrant against him for suspected money laundering, though the investigation remains ongoing.
5. First court appearance since the end of term: This marks the first time Riad Salameh has appeared in court since his term ended on July 31, 2023. A political crisis in the country has left his position vacant, with no successor appointed. Wassim Mansouri, the first vice-governor, has been acting in an interim capacity since then.
This article was originally published in L'Orient-Le Jour and translated by Sahar Ghoussoub.