(Credit: AFP/Getty)
This article was updated on Sept. 24, following BDL’s Special Investigation Commission targeted 11 individuals and two companies linked to several financial investigations and sanctions cases.
Since Lebanon’s financial collapse in 2019, former Banque du Liban (BDL, central bank) governor Riad Salameh has faced a maze of investigations and legal proceedings at home and across Europe, involving hundreds of millions of dollars. Most recently, on Sept. 22, BDL’s Special Investigation Commission (SIC) has ordered banks and financial institutions operating in the country to freeze the accounts and assets of 11 individuals and two companies.
Earlier, on Sept. 1, Lebanese prosecutors resumed proceedings against him for alleged Money and Credit Code violations. On Sept. 16, Salameh’s lawyers filed a request for his release with Beirut First Investigative Judge Roula Osman, citing legal grounds, material evidence and health reasons. His lawyer, Wassim Ghawi, told L’Orient Today that the judge should rule on the request by the beginning of next week.
His associates and relatives have also been investigated or charged, while foreign authorities have frozen assets and issued arrest warrants against him. Salameh has consistently denied wrongdoing.
He was arrested on July 31, 2026, by the prosecutor general at the Court of Cassation, Rami al-Hajj, after he failed to appear for a hearing. The general prosecutor at the Court of Appeal subsequently placed him in pretrial detention on Aug. 12.
Of note, Salameh had been held in pretrial detention in Roumieh prison, but was transferred back to hospital on Aug. 20 after going on hunger strike and refusing to take his medication in protest against his detention.
His lawyers now argue that the detention order lacks sufficient factual and material grounds and does not meet the minimum requirements for pretrial detention under Article 107 of Lebanon’s Code of Criminal Procedure. Ghawi also cited medical reports that he said attest to Salameh’s frail health and risks to his life and physical integrity.
So, what exactly is he accused of in various jurisdictions, at home, and abroad? Have any of these cases resulted in a judgment? And where does he stand today?
Let’s break it down.
1. What cases does Riad Salameh face in Lebanon?
Salameh does not face a single case in Lebanon, but several separate proceedings that have accumulated over the years.
The latest was launched by BDL itself.
- 2026: The BDL/Bank Audi case
In January 2026, BDL, now headed by Karim Souhaid, filed a complaint against Salameh and former Bank Audi CEO Samir Hanna.
This complaint led Beirut public prosecutor Raja Hamoush on Aug. 10, 2026, to charge both men with alleged embezzlement of public funds.
The complaint dates back to 2010, when EFG Hermes, a major shareholder in Bank Audi, wanted to sell its shares. Bank Audi brought together investors to buy them, and BDL joined the operation by putting $153 million into bonds issued by a Cayman Islands company. The bonds were linked to the acquisition of Bank Audi shares. At the heart of the case is a central question: was BDL legally allowed to invest its money this way? While the defense justifies it by BDL’s mission to protect financial stability, the prosecution argues that BDL does not have the right to make such an investment except in an emergency threatening the banking sector.
Now, the same January complaint also led to proceedings (Sept. 1) against Salameh for allegedly violating the Money and Credit Code in connection with that same deal. The entire case is now being handled by Hamoush instead of splitting it between his office and the Financial Prosecutor’s Office for the part relating to the Money and Credit Code.
According to Salameh’s lawyer, BDL itself, acting as the civil party in the case, confirmed that the 2010 loan to Bank Audi resulted from a decision by the Central Council rather than Salameh personally. Ghawi also said the loan was fully repaid in 2012 with 5% interest, amounting to $33 million. He said a second loan granted in 2014 was fully repaid in 2016 with 6.5% interest.
Hanna, for his part, reportedly paid a $1 million bail and is not in custody. After his lawyer raised procedural objections, the case was postponed several times, with the next hearing now scheduled for Oct. 1
- 2024: The Optimum Invest case
This is the case that first put Salameh behind bars.
In September 2024, he was arrested for the first time over the alleged embezzlement of around $44.8 million involving central bank commissions. Investigators allege that Salameh ordered transfers from the central bank’s so-called “consultancy account” to lawyer Michel Tueni, who issued checks to another lawyer, Marwan Issa El-Khoury. The checks were returned to Salameh and deposited into his personal account. Salameh was eventually released in September 2025 after around a year in pretrial detention and paying $14 million in bail. His release did not amount to an acquittal, and the case had not resulted in a final judgment. Now that the investigation is over, he is scheduled to appear before the Beirut Criminal Court on Oct. 15.
- 2022: The French real-estate/Champs-Elysees case
In 2022, a separate Lebanese proceeding was launched concerning properties in France, including premises on the Champs-Elysees rented by BDL from a company headed by Salameh’s former partner, Anna Kosakova.
The case involves suspicions including money laundering and illicit enrichment. An investigating judge subsequently issued an arrest warrant against Salameh in October 2024. In July 2025, investigating judge Nicolas Mansour referred the case to the Jounieh Criminal Court. A hearing scheduled for July 2026 was postponed until January 2027, meaning there has not yet been a final judgment.
- 2021: The Forry Associates case
In 2021, Lebanon opened an investigation following a Swiss request for judicial assistance concerning transfers from BDL to Forry Associates, a company beneficially owned by Salameh’s brother Raja. The investigation concerns more than $330 million in commissions paid by BDL to Forry between 2002 and 2015. Investigators allege that some of the money was subsequently transferred through accounts and companies connected to the Salameh brothers.The case is now before Beirut’s First Investigative Judge, Roula Osman. Salameh has filed several appeals, the latest arguing that the case had already been examined by another court. It was ultimately rejected by the plenary assembly of the Court of Cassation, and the former BDL governor must now appear before Judge Osman on September 29.
In February 2023, Lebanese prosecutors formally charged Riad Salameh, his brother, Raja, and former BDL assistant Marianne Hoayek with offenses including money laundering, embezzlement, and illicit enrichment. The investigation was later stalled because of Salameh's appeals and then resumed in late 2025. Based on the material we’ve reviewed, there is no final judgment yet.
- 2021: Other early Lebanese proceedings
There were also other judicial actions against Salameh beginning in 2021, including proceedings concerning BDL’s handling of dollars allocated for subsidized imports. This was launched by then-Mount Lebanon Prosecutor Ghada Aoun. She then referred the case to Investigative Judge Nicolas Mansour. Salameh was summoned for questioning at the time, but did not appear, with his lawyer instead raising procedural objections once again.
Another complaint was filed by businessman and depositor Talal Abu Ghazaleh in June 2021 over BDL circulars and their impact on depositors. The complaint later resulted in an arrest warrant against Salameh, but the proceedings were dismissed in July 2026, when the Beirut Indictment Chamber dismissed the case, ruling it should not proceed to trial in this particular case.
In May 2026, BDL filed a separate complaint against Salameh over alleged transfers of around $70 million through V-Invest, a company described as the legal successor to Forry Associates. The complaint alleges that the funds were ultimately transferred to people close to Salameh. The case was assigned to investigative judge Fouad Mrad and remains under investigation.
2- What cases does Salameh face abroad?
Investigations have been opened in several European countries, largely tracing the same alleged flow of money from BDL through offshore companies and into European bank accounts and properties.
- Switzerland: This is where the international investigation began. In October 2020, Swiss prosecutors opened an investigation into Riad and Raja Salameh on suspicion of aggravated money laundering. At the heart of the case is Forry Associates, a company beneficially owned by Raja that received around $330 million in commissions from BDL between 2002 and 2015. Investigators suspect that some of this money was subsequently transferred to accounts and companies linked to the brothers and used to acquire luxury properties. The Swiss investigation triggered a request for judicial assistance from Lebanon and helped fuel investigations elsewhere in Europe. Swiss financial regulator FINMA has also found anti-money-laundering failures at Bank Audi and HSBC Switzerland connected to the affair. Salameh is still under investigation.
- France: French prosecutors opened their investigation in May 2021, focusing particularly on suspected money laundering through luxury properties and other assets. In 2023, French judges issued an arrest warrant for Riad Salameh after he failed to appear for questioning, followed by an Interpol Red Notice. French authorities have also formally investigated or charged several people in his circle, including his brother Raja, former partner Anna Kosakova, former BDL assistant Marianne Hoayek, son Nady Salameh, banker Marwan Kheireddine and lawyer and nephew Marwan Issa El-Khoury, on various allegations related to money laundering, criminal conspiracy and embezzlement. More than 120 million euros in assets linked to the investigation were frozen across several European countries in 2022. In April 2025, France’s Court of Cassation annulled seizures on some accounts held outside France on jurisdictional grounds, but did not rule on the substance of the allegations.
- Germany: German prosecutors also investigated Salameh for suspected money laundering and embezzlement and issued an arrest warrant in May 2023. The warrant was cancelled a year later because authorities no longer considered him a risk for evidence tampering after he left BDL. In January 2026, German prosecutors seized around 35 million euros in commercial real estate and company shares linked to the case. A court must now decide whether the assets can be permanently confiscated.
- Luxembourg: Authorities opened an investigation in 2021 into allegations including money laundering, illicit enrichment and tax evasion, examining companies controlled by Salameh and investments in European property.
- Liechtenstein: Also in 2021, authorities launched a money-laundering investigation, reportedly examining two Liechtenstein-based companies suspected of links to Salameh.
Beyond criminal investigations, the United States, United Kingdom and Canada sanctioned Salameh in August 2023, alongside several members of his circle. The measures include asset freezes and restrictions on financial transactions. These sanctions are not criminal convictions.
So, despite the number of investigations, warrants, indictments, asset freezes, and sanctions across jurisdictions, there is no final criminal conviction of Riad Salameh in Lebanon or abroad.
