Lebanon's ex-central bank governor remain jailed amid embezzlement charges

By AJP Posted : September 11, 2024, 10:20 Updated : September 11, 2024, 15:59
 
Riad Salameh Lebanons Central Bank governor attends a news conference in Beirut Lebanon in this file photo taken on Nov11 2019 AP-Yonhap
Riad Salameh, Lebanon's Central Bank governor attends a news conference in Beirut, Lebanon, in this file photo taken in November 2019. AP-Yonhap
SEOUL, September 11 (AJP) - A Lebanese judge ruled that Riad Salameh, the former central bank governor, will remain in custody as he faces charges of embezzling $42 million from state funds. Salameh was detained last week after being questioned by Lebanon's top prosecutor on several financial crimes. He has maintained his innocence throughout.

Judge Bilal Halawi issued an arrest warrant for Salameh, ensuring he stays behind bars while the trial proceeds. Judicial officials allege that Salameh, with the help of two lawyers, transferred money from the central bank to personal accounts. Lebanon's justice ministry also filed a lawsuit against him for the embezzlement of public funds.

Salameh served as central bank governor for 30 years but stepped down a year ago amid growing scrutiny over his role in the country’s financial collapse. Many Lebanese blame him for the economic crisis that started in 2019, which caused the national currency to crash and left many citizens' savings trapped in banks.

A judicial source, speaking anonymously, said Salameh arrived at court without a lawyer, thinking he was a witness rather than a suspect. Outside the Beirut courthouse, a small group of protesters demanded that Salameh remain in jail, accusing him of contributing to the financial ruin.

Elias Jaradeh, an independent lawmaker elected on an anti-corruption platform, joined the protesters, calling for others who worked with Salameh in banks or the media to face justice.

Salameh, once credited for stabilizing Lebanon's post-civil war economy, has denied all accusations of corruption, asserting his wealth comes from legitimate sources like inheritance and past investments as a former investment banker. Despite his claims, European countries are also investigating him for financial crimes.
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