Riad Salameh targeted by new BDL complaint over alleged illegal fund transfers

BEIRUT — Banque du Liban (BDL, central bank) has filed a new financial complaint against former BDL governor Riad Salameh, accusing him of involvement in alleged illegal fund transfers worth tens of millions of dollars that are believed to have benefited people close to him.

The complaint, submitted Thursday by BDL’s current governor, Karim Souhaid, to the financial prosecutor’s office, concerns transfers allegedly routed through accounts linked to V-Invest, a transportation company, before ultimately reaching the actual beneficiaries through a process designed to conceal their identities. According to the complaint, the recipients included Salameh’s brother Raja, actress S.S., and a person identified by the initials L.B. The operations were allegedly facilitated by two commercial banks.

V-Invest is considered the "legal successor" to Forry Associates LTD, a brokerage firm run by Raja Salameh that ceased operations in 2015. The transactions carried out through V-Invest — also managed by Raja — are believed to have strarted in 2017, after Forry encountered issues with foreign banks, a source familiar with the matter told L’Orient-Le Jour. Forry is already at the center of suspicions of embezzlement and illegal commissions estimated at around $330 million. The case is currently under review by Beirut First Investigating Judge Roula Osman.

The V-Invest case has been assigned to Fouad Mrad, deputy attorney general at the financial prosecutor’s office headed by Maher Cheaito.

Mrad, who has recently begun his investigation, has not yet scheduled a hearing.