Lebanon's once acclaimed former central bank governor, Riad Salameh, was arrested in Beirut on Tuesday in a move that sparked surprise among the population that for years have watched the country's corrupt leaders seemingly evade accountability for its devastating four-year economic collapse.
Salameh was arrested by a public prosecutor and questioned on suspicion of financial crimes related to transactions between brokerage company Optimum Invest and Lebanon’s central bank.
It was a landmark moment for the banker who had so far managed to evade arrest, despite numerous charges at home and abroad of financial crimes, including the embezzlement of hundreds of millions of dollars and laundering state funds abroad.
In a following development on Wednesday, he was charged by financial prosecutor Ali Ibrahim for embezzlement, stealing public funds, and illicit enrichment, according to the state-run National News Agency. According to one Swiss investigation, Salameh is accused of laundering some $300 million from state funds. He has consistently denied all charges.
The 74-year-old ran Bank du Liban for 30 years after stepping down in July 2023, becoming the longest-running central bank governor in the world.
But it was during his tenure that Lebanon endured its worst financial crisis since the civil war, which saw the state default on its foreign exchange reserves and trigger a liquidation crisis that saw the Lebanese pound lose over 90% of its value against the US dollar.
