The End of a Symbol of Corruption in Lebanon? Senior Official Arrested in Beirut

Riad Salameh, the former governor of the Central Bank of Lebanon, was arrested over the weekend at a hospital northeast of Beirut. Police detained him after he failed to appear for questioning before a judge last Thursday. The former governor is accused of financial crimes related to Central Bank transactions and the illegal purchase of securities. The investigation was prompted by a complaint filed by the current Lebanese Central Bank governor, Karim Souaid.

It remains unclear whether Salameh will remain under police guard at the hospital or be transferred to a detention facility pending further legal proceedings. Salameh headed the Central Bank for 30 years (1993–2023) and is currently the subject of multiple corruption investigations both in Lebanon and abroad.

Lebanese and European prosecutors allege that hundreds of millions of dollars were diverted from the Central Bank of Lebanon through commissions paid to 'Forry Associates,' a company controlled by Riad Salameh's brother. Other proceedings relate to real estate holdings in France, including properties on the Champs-Élysées. In October 2024, an arrest warrant was issued against Salameh on suspicion of money laundering, embezzlement, and fraud.

The Salameh family's real estate empire includes luxury estates in prime locations across several European capitals. Assets worth approximately 92 million dollars have been confiscated by authorities following these corruption scandals.

Salameh served as governor during the collapse of Lebanon's financial system in 2019. Critics accuse him of shaping the policies that fueled the crisis, and he is widely regarded as a symbol of the corruption and mismanagement prevalent among the Lebanese elite.