Ex-Lebanese Central Bank Governor Charged With Embezzling $42 Million

Lebanon charged its embattled former central bank governor on Wednesday with the embezzlement of $42 million, three judicial officials told Kareem Chehayeb of the Associated Press (AP).

Appointed in 1993, Salameh was initially lauded for guiding Lebanon’s economic recovery after a 15-year civil war and maintaining stability through periods of political turmoil. I Photo: Karan Jain Wikimedia Commons

Riad Salameh, 73, was charged by the Financial Public Prosecution a day after being detained following an interrogation by Lebanon’s top public prosecutor over several alleged financial crimes.

His case has now been transferred to an investigating judge, according to the officials, who spoke on condition of anonymity in line with regulations.

Salameh ended his 30-year tenure as central bank governor a year ago under suspicion, with multiple European countries investigating allegations of financial misconduct.

Many in Lebanon hold him responsible for the country’s ongoing financial crisis, which has been devastating since late 2019. Appointed in 1993, Salameh was initially lauded for guiding Lebanon’s economic recovery after a 15-year civil war and maintaining stability through periods of political turmoil.

Salameh has consistently denied allegations of corruption, embezzlement, and illicit enrichment, asserting that his wealth comes from inherited properties, investments, and his previous career as an investment banker at Merrill Lynch.