Lebanon's former Central Bank chief 'broke down in tears' during arrest

Riad Salameh, the former governor of Lebanon's Central Bank, reportedly broke down in tears during his arrest and was visibly shaken as authorities placed him in handcuffs, domestic media reported on Thursday.

In a bid to avoid public embarrassment, Salameh draped a jacket over his wrists to conceal the handcuffs as he was escorted by police, according to witness and a leaked photograph.

Salameh, who led the bank for nearly three decades before stepping down in July, was taken into custody on Tuesday in a dramatic turn of events that has sent shockwaves through Lebanon’s political and financial circles.

Once lauded for reviving Lebanon's economy, 74-year-old French-Lebanese national Salameh is wanted abroad and reviled at home after Lebanon sank into a crippling economic crisis in 2019.

Salameh left office at the end of July 2023 without a successor and faces numerous accusations including embezzlement, money laundering and tax evasion in separate probes in Lebanon and abroad.

On Friday, Salameh's media office released its first statement since the arrest, saying that the former central bank chief had "cooperated in a completely objective manner in more than 20 criminal prosecutions in Beirut and Mount Lebanon" following the end of his term, and he will "continue this cooperation".

The statement made no specific reference to the accusations against Salameh, citing "the obligation of confidentiality" with regards to the investigation, based on Article 53 of the Code of Criminal Procedure.

The statement concluded by reiterating that the Code of Criminal Procedure affords the right to remain silent and the presumption of innocence until a final judgment is issued.

Germany, along with France, issued an arrest warrant for Salameh in May 2023 over accusations including money laundering and fraud.

Salameh has repeatedly denied wrongdoing and defended his legacy, saying he is a "scapegoat" for Lebanon's economic collapse.

In late 2019, he became the main focus of public anger as the economy began to unravel, and in 2020 Lebanon defaulted on its debts for the first time.

Lebanese commercial banks imposed draconian withdrawal restrictions when the economy collapsed, preventing ordinary Lebanese people from accessing their life savings.

Salameh "never refused the political class anything", and "protected the banks whose main shareholders are politicians" because he once had presidential aspirations, one veteran banker told AFP on condition of anonymity because of the sensitivity of this topic.

In the days leading to his retirement, Salameh told local media the political class abandoned him "a long time ago".