Karim Salam released on bail for approx 100,000 dollars

BEIRUT — The Beirut indictment chamber approved on Friday the release of Karim Salam, brother and collaborator of former Economy Minister Amine Salam, in exchange for bail set at nine billion Lebanese lira, or approximately $100,000.

He is facing prosecution, along with his brother, for embezzlement of public funds and extortion of insurance companies.

Salam, the brother and collaborator of the former minister, is implicated in the case relating to the Contributions Fund for Insurance Companies, and had requested release on Dec. 9 from Beirut investigative judge Roula Osman.

(Amine) Salam, has been detained since last June in a case of alleged corruption, was released Tuesday.

His release included a six-month travel ban, and bail set at nine billion Lebanese pounds, just as for his brother. (Amine) Salam is notably suspected of having signed contracts with foreign companies for excessive amounts compared to the services rendered to the Economy Ministry, and of using funds from the Contributions Fund for Insurance Companies—under his supervision—for personal purposes.

Salam has denied these accusations, stating last May to L’Orient-Le Jour that these funds "were allocated for payment of the ministry employees’ salaries," amid the financial crisis starting in October 2019.

The case was triggered last March by the parliamentary Economics Committee chaired by Farid Boustany, who asked Chief Public Prosecutor Jamal Hajjar to open a judicial investigation.

At the request of the current Economy Minister, Amer Bisat, the State Litigation Department also filed a complaint with Judge Hajjar.

The latter arrested Salam on June 11, then transferred his case to the financial prosecutor, who pressed charges against him and subsequently referred the case to former Beirut Investigating Magistrate Bilal Halawi, who issued an arrest warrant against him on June 19.