Now a wanted man, Lebanon’s central bank head steps down
1 year, 4 months ago

Now a wanted man, Lebanon’s central bank head steps down

Al Jazeera  

Amid accusations of fraud, a tarnished end to a governorship that started in 1993 at the request of the PM. Beirut, Lebanon – Riad Salameh’s term as governor of Lebanon’s central bank is coming to an end after 30 years amid charges at home and abroad of money laundering, fraud and embezzling public funds. The Lebanese lira stood pegged at 1,507 to the US dollar for decades, and confidence in Salameh’s “winning strategy” continued. We were able to provide financing for reconstruction … to create the conditions to attract people back,” says Nasser Saidi, who became Salameh’s first vice governor at BDL in 1993, and was later minister of economy and trade and minister of industry. French prosecutors charged him with “criminal association with a view to commit offenses”, organised money laundering, and “aggravated tax fraud”, while Germany is charging him with “jointly committed money laundering, money laundering on a repetitive and gainful basis”, according to Interpol’s website.

Money Laundering Germany Bank Lebanon Central Banks Lebanese Interpol Wanted Man Salameh Bdl Saidi Riad Salameh  salameh  minister  central  head  lebanese  steps  lebanons  money  laundering  bank  bdl  banks  wanted  man

History of this topic

Former Lebanese central bank governor charged with embezzling $42m in ongoing corruption probe
3 months, 2 weeks ago

Former Lebanese central bank governor charged with embezzling $42m in ongoing corruption probe

Associated Press  

BEIRUT — Lebanon charged its embattled former central bank governor Wednesday with the embezzlement of $42 million, three judicial officials told The Associated Press. Salameh ended his 30-year term as central bank governor a year ago under a cloud, with several European countries probing allegations of financial crimes. According to two other judicial officials, Salameh appeared to have brought in …

Lebanon’s former central bank governor detained in corruption probe
3 months, 3 weeks ago

Lebanon’s former central bank governor detained in corruption probe

Associated Press  

BEIRUT — Lebanon’s controversial former central bank governor was detained Tuesday after being questioned in several corruption cases, according to three judicial officials. Though he was widely celebrated for his role in Lebanon’s economic recovery after a 15-year civil war, Salameh left his post last year under a cloud, with several European countries probing his alleged financial crimes. Salameh was …

Lebanon’s former central bank chief Riad Salameh arrested
3 months, 3 weeks ago

Lebanon’s former central bank chief Riad Salameh arrested

Al Jazeera  

Arrest comes after top prosecutor interrogated Salameh over several financial matters, judiciary officials say. Lebanon’s former central bank governor, Riad Salameh, has been arrested after a hearing at the country’s judicial palace, according to Lebanese state media. The state-run National News Agency said Judge Jamal al-Hajjar, who holds the position of public prosecutor, detained 73-year-old Salameh after interrogating him on …

Lebanon’s billionaire prime minister denies allegations of money laundering in France
8 months, 2 weeks ago

Lebanon’s billionaire prime minister denies allegations of money laundering in France

Associated Press  

PARIS — Lebanon’s billionaire caretaker prime minister has denied allegations of money laundering after a complaint was filed in France by two anti-corruption groups this week. The complaint against Najib Mikati was formally filed Tuesday with France’s National Financial Prosecutor’s office by French anti-corruption non-governmental organization Sherpa and the Collective of Victims of Fraudulent and Criminal Practices. Sherpa said the …

Germany confirms probe into former Lebanon central bank chief Salameh
9 months, 4 weeks ago

Germany confirms probe into former Lebanon central bank chief Salameh

Al Jazeera  

Prosecutors say Riad Salameh, the bank’s governor from 1993 to 2023, is being investigated for money laundering and other crimes. Prosecutors in Germany have confirmed they are investigating Lebanon’s former central bank chief for money laundering and other crimes and have issued an arrest warrant for him. Riad Salameh, the governor of Lebanon’s central bank from 1993 to 2023, is …

Lebanon’s interim central bank chief vows not to lend money to government, calls for economic reform
1 year, 3 months ago

Lebanon’s interim central bank chief vows not to lend money to government, calls for economic reform

Associated Press  

BEIRUT — Lebanon’s interim central bank governor called on the country’s ruling class Friday to quickly implement economic and financial reforms warning that the central bank won’t offer loans to the state and does not plan on printing money to cover the huge budget deficit to avoid worsening inflation. Since taking office, Mansouri has been urging the government to pass …

Sanction elites to stop Lebanon from becoming a failed state
1 year, 4 months ago

Sanction elites to stop Lebanon from becoming a failed state

Al Jazeera  

Lebanon is four years into one of the worst financial crises in modern history, and in that time the country’s powerbrokers – the politicians, bankers and sectarian leaders – have been actively taking steps to speed the country’s descent into the abyss. While the elites who brought the nation to the verge of bankruptcy cannot agree on most things, they …

Lebanon's interim central bank governor freezes assets of former chief and close associates
1 year, 4 months ago

Lebanon's interim central bank governor freezes assets of former chief and close associates

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Lebanon’s interim central bank governor …

US, UK, and Canada sanction Lebanon’s former central bank governor over corruption allegations
1 year, 4 months ago

US, UK, and Canada sanction Lebanon’s former central bank governor over corruption allegations

Associated Press  

BEIRUT — The United States, United Kingdom, and Canada slapped sanctions Thursday on Lebanon’s embattled former central bank governor and a handful of close relatives and associates over allegations of corruption, the U.S. Treasury Department said. “Salameh abused his position of power, likely in violation of Lebanese law, to enrich himself and his associates by funneling hundreds of millions of …

Lebanon’s central bank governor ends 30-year tenure under investigation during dire economic crisis
1 year, 4 months ago

Lebanon’s central bank governor ends 30-year tenure under investigation during dire economic crisis

Associated Press  

BEIRUT — Lebanon’s embattled central bank governor stepped down on Monday under a cloud of investigation and blame for his country’s economic crisis as several European countries are probing his alleged financial crimes. the funds in the Central Bank will eventually dry up.” Salameh kicked off his tenure as governor in 1993, three years after Lebanon’s 15-year civil war came …

Lebanon’s new central bank head says reforms planned to deal with economy
1 year, 4 months ago

Lebanon’s new central bank head says reforms planned to deal with economy

Al Jazeera  

Wassim Mansouri is to take over as interim chief of Lebanon’s central bank after Riad Salameh steps down. The Lebanese central bank’s new interim chief has urged the government to undertake long-delayed reforms as he confirmed he would take over as its acting head, replacing longtime chief Riad Salameh. Wassim Mansouri, the vice governor of the Banque du Liban or …

Top Lebanese official in IMF talks calls for central bank head to resign amid corruption allegations
1 year, 7 months ago

Top Lebanese official in IMF talks calls for central bank head to resign amid corruption allegations

Associated Press  

BEIRUT — The Lebanese official heading talks with the International Monetary Fund to bail out Lebanon’s tanking economy called Thursday for the country’s embattled central bank chief to resign, amid allegations of corruption and an international arrest warrant issued against him. Lebanon’s caretaker deputy prime minister, Saade Chami, told The Associated Press in an interview that the allegations against the …

France issues arrest warrant for Lebanon’s central bank chief
1 year, 7 months ago

France issues arrest warrant for Lebanon’s central bank chief

Al Jazeera  

Riad Salameh calls the French warrant a violation of law as he is investigated over corruption allegations at home and abroad. French prosecutors have issued an arrest warrant for Lebanon’s central bank governor, Riad Salameh, who slammed the move and promised to appeal. During a visit to Lebanon in March, a European delegation questioned Salameh about the Lebanese central bank’s …

How Lebanon’s Riad Salameh went from ‘world’s best central bank chief’ to ‘criminal’
1 year, 9 months ago

How Lebanon’s Riad Salameh went from ‘world’s best central bank chief’ to ‘criminal’

Firstpost  

Riad Salameh, one of the world’s longest-serving central bank governors, is being investigated for his personal wealth and is widely blamed for the country’s dramatic economic collapse. He was previously an untouchable figure in Lebanon, having held the position for three decades Beirut: Lebanon’s central bank chief Riad Salameh, once lauded for reviving the economy, faces investigations into his personal …

Lebanon’s Central Bank chief again charged with corruption
1 year, 9 months ago

Lebanon’s Central Bank chief again charged with corruption

Associated Press  

BEIRUT — Lebanon’s Central Bank chief was again charged with corruption on Wednesday, this time after failing to show up for questioning before a European legal team visiting Beirut in a money-laundering probe linked to the governor, officials said. In late February, Beirut’s public prosecutor Raja Hamoush charged the three with corruption, including embezzling public funds, forgery, illicit enrichment, money-laundering, …

Lebanon’s Central Bank governor charged with corruption
1 year, 10 months ago

Lebanon’s Central Bank governor charged with corruption

Associated Press  

BEIRUT — Beirut’s public prosecutor on Thursday charged the governor of cash-strapped Lebanon’s Central Bank, his brother and an associate with corruption, Lebanese officials said. The 72-year-old Salameh was once hailed as the guardian of Lebanon’s financial stability but many now hold him responsible for the crisis, citing policies that drove up national debt and caused the Lebanese pound to …

Lebanon bank holdups: Who is the real criminal?
2 years, 1 month ago

Lebanon bank holdups: Who is the real criminal?

Al Jazeera  

Today, Lebanon has an enormous $72bn hole in its national finances. Yet since the onset of the financial crisis, Lebanon’s banks and their supposed regulator, the Banque du Liban, have been making a bizarre ontological argument to avoid paying back their depositors and officially declaring bankruptcy. There are near-weekly bank hold-ups across Lebanon, but with a twist: People have been …

Lebanon central banker probed in money laundering investigation
2 years, 8 months ago

Lebanon central banker probed in money laundering investigation

Al Jazeera  

The investigation revolves around money laundering and embezzling public funds in Lebanon between 2002 and 2021. Lebanon’s central bank head is one of the targets in a joint money-laundering probe spearheaded by three European countries over the alleged embezzlement of more than $330 million. Authorities in France, Germany and Luxembourg froze assets worth a total of 120 million euros on …

Lebanese judge charges central bank chief with corruption
2 years, 9 months ago

Lebanese judge charges central bank chief with corruption

Associated Press  

BEIRUT — A Lebanese judge said Monday she has charged the country’s central bank governor with illegal enrichment and money laundering during Lebanon’s economic meltdown. Riad Salameh’s brother, Raja Salameh, who was detained last week, was also charged with taking part in the crimes. The protest by the banks came after Aoun last week froze the assets of six of …

Lebanese judge charges central bank chief with corruption
2 years, 9 months ago

Lebanese judge charges central bank chief with corruption

Al Jazeera  

Investigative judge Ghada Aoun charges three-decade bank chief Riad Salameh, as well as his brother, with crimes. Lebanon’s central bank governor Riad Salameh has been charged with illegal enrichment and money laundering during Lebanon’s economic meltdown. Ghada Aoun, an investigative judge at Mount Lebanon district court, said on Monday that she had charged Governor Riad Salameh, along with his brother, …

Lebanese judge freezes assets of central bank governor
2 years, 11 months ago

Lebanese judge freezes assets of central bank governor

Associated Press  

BEIRUT — An investigating judge in Beirut on Tuesday froze some assets belonging to the country’s central bank governor, who is accused of corruption and dereliction of duties during Lebanon’s unprecedented economic meltdown. In an incident reflecting growing public anger, a man held up employees of a commercial bank in the western Bekaa region at gunpoint Tuesday, threatening to burn …

Lebanese central bank governor says corruption charges false
3 years, 1 month ago

Lebanese central bank governor says corruption charges false

Associated Press  

BEIRUT — Lebanon’s central bank governor said Wednesday that he asked for an audit of transactions and investments during his tenure and the results showed no public money has been misused. Salameh said in a statement Wednesday that he was a wealthy investment banker before he became the head of the central bank in 1993. In his statement on Wednesday, …

UN rep slams Lebanon central bank chief over economic crisis
3 years, 1 month ago

UN rep slams Lebanon central bank chief over economic crisis

Al Jazeera  

A UN expert blasted the country’s banking sector for failing to recognize its role in the country’s crippling economic crisis. Beirut, Lebanon – United Nations Special Rapporteur on extreme poverty and human rights Olivier De Schutter on Friday blasted Lebanese Central Bank Governor Riad Salameh for not recognizing the bank’s role in the country’s crippling economic crisis. The Central Bank …

Lebanon’s incoming government restarts central bank audit
3 years, 3 months ago

Lebanon’s incoming government restarts central bank audit

Associated Press  

BEIRUT — Lebanon’s incoming finance minister signed a contract on Friday with a New York-based company to conduct a forensic audit of the country’s central bank, a key demand of the international community to restore confidence in the crisis-struck Mideast nation. A forensic audit of the Lebanese central bank has been a key demand by the IMF and international donors …

Here is why the EU should sanction Lebanon’s bankers
3 years, 4 months ago

Here is why the EU should sanction Lebanon’s bankers

Al Jazeera  

The banking sector is responsible for the current crisis in Lebanon. At present, the proposed EU sanctions target Lebanon’s political leaders, many of whom do not necessarily meet those criteria or who have demonstrated that they are unwilling to challenge the BDL or the banking sector, not least because of current or previous business ties to the industry. Smarter sanctions …

France opens graft probe into Lebanon’s central bank chief
3 years, 6 months ago

France opens graft probe into Lebanon’s central bank chief

Al Jazeera  

French prosecutors opened a preliminary investigation into money laundering allegations against Lebanon’s longtime central bank chief Riad Salameh, who is also accused of associating with an organised criminal group. French prosecutors have opened a preliminary investigation into money laundering allegations against Lebanon’s central bank governor, the prosecutor’s office said on Monday. The move comes on the heels of Switzerland launching …

Lebanon’s central bank U-turns after dollar withdrawal backlash
3 years, 6 months ago

Lebanon’s central bank U-turns after dollar withdrawal backlash

Al Jazeera  

Lebanon’s central bank chief on Thursday sought to reassure depositors that their money was safe and would be returned after reversing a Wednesday decision to stop dollar withdrawals. The governor of Lebanon’s central bank reassured depositors on Thursday that it was not bankrupt and that people’s deposits were safe and would be returned soon, after reversing a decision to stop …

Swiss open money-laundering probe of Lebanon’s central bank
3 years, 11 months ago

Swiss open money-laundering probe of Lebanon’s central bank

Al Jazeera  

The investigation is the latest blow of confidence to Lebanon’s crippled financial system. Beirut, Lebanon – Swiss authorities have requested that Lebanon’s judiciary cooperate with a money-laundering investigation into the country’s central bank, in the latest blow of confidence to the insolvent financial institution and its crestfallen governor. The probe centers on $400m in transfers allegedly tied to the bank’s …

Discover Related