Riad Salameh arrested in Lebanon over financial investigations

Riad Salameh, the former governor of Lebanon's central bank, was arrested following a hearing at the judicial palace in Lebanon. This marked his first appearance before the judiciary since leaving his position in July 2022. The arrest was executed by Judge Jamal al-Hajjar after Salameh was interrogated for over three hours regarding various financial matters, including allegations of hiring a company to manipulate financial statements to hide significant losses in Lebanon's economy. Salameh, who served as the central bank governor for three decades, has faced numerous allegations of financial misconduct, including illicit enrichment and embezzlement. He is also wanted by French authorities for similar charges, with Interpol issuing red notices against him. Despite these serious accusations, Salameh has consistently denied any wrongdoing, attributing his wealth to inherited properties and investments from his previous career as an investment banker. The Lebanese Internal Security Forces have since transferred him to a more secure prison, where he is expected to remain while further interrogations take place. The caretaker Justice Minister, Judge Henry Khoury, expressed respect for the judiciary's decision, while caretaker Prime Minister Najib Mikati stated that the government would not interfere in the legal proceedings. This arrest comes amid ongoing financial turmoil in Lebanon, which has been grappling with a severe economic crisis since late 2019. Many citizens hold Salameh accountable for the financial collapse, and his arrest may signal a shift in the judiciary's approach to addressing corruption within the country's financial institutions.