Lebanon formally charges former central bank governor Riad Salame in major embezzlement case |
Lebanese judicial authorities have formally charged former central bank governor Riad Salame with embezzlement, forgery, and illicit enrichment in a case involving the alleged misappropriation of $44.8 million in public funds, marking a significant escalation in long-running legal efforts to hold senior financial officials accountable for Lebanon’s devastating economic collapse.
The indictment, issued nearly ten months after a Beirut court ordered that Salame be referred to trial, represents the most concrete legal action taken against the former Banque du Liban (BDL) chief inside Lebanon. Salame, 75, served as governor of the central bank for three decades, a tenure that spanned multiple political crises but ended amid the country’s worst financial meltdown in modern history. He stepped down from office in July 2023 after repeated extensions of his mandate and mounting domestic and international scrutiny.
According to Lebanese judicial officials, Salame has been charged alongside two legal advisers accused of assisting in the alleged scheme. Prosecutors say the case centers on consulting accounts held at the central bank into which public funds were deposited before being transferred to private accounts without the bank’s knowledge or proper authorization. Investigators allege that these transactions were structured to conceal the movement........