Lebanese Justice Ministry Officially Charges Ex-Central Bank Chief with Financial Crimes
Sep 5, 2024
Lebanon’s justice ministry has officially charged former central bank governor Riad Salameh with financial crimes, including embezzlement, as protests call for his detention.
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Lebanon’s former central bank governor, Riad Salameh, is in serious trouble. On Thursday, the justice ministry accused him of financial crimes. These crimes include stealing public money and making himself rich by using government funds.
Salameh, who is 73 years old, has been in charge for almost 30 years. However, he now faces a big fall from power.
Salameh was arrested on Tuesday, and he denies all the accusations. He claims he did nothing wrong. But the authorities say they want to get back any money he may have stolen from the state. Salameh will stay in jail until a hearing, which could happen next week.
The public is also reacting to his arrest. On Thursday, many people gathered outside the justice ministry to protest. They want Salameh to stay in jail. Some even burned his picture.
The protest was organized by a group called Depositors’ Outcry. This group fights for the rights of people who have lost access to their savings in Lebanon’s banks.
For a long time, Salameh was seen as the main person in charge of Lebanon’s financial system. He held his position at the central bank for almost three decades.
But things changed in 2019 when Lebanon’s economy began to collapse. Many blamed Salameh for the country’s financial crisis and accused him of being corrupt.
One of the main charges against him is that he made more than $110 million through illegal activities. He is also accused of using a company called Optimum Invest to help with these crimes. Optimum Invest is a Lebanese company that deals with financial services.
The company, however, says they are fully cooperating with the investigation. They have provided all the documents and information that the authorities asked for. But so far, the charges against Salameh have not been made public.
Salameh’s arrest is a major event in Lebanon. For many years, he denied all the claims against him. Even now, it is unclear if he has hired a lawyer since his arrest. But in the past, Salameh has always said he is innocent.
His arrest is a big moment for Lebanon. Once seen as a smart and powerful man, Salameh is now linked to the country's financial problems. The collapse of Lebanon’s economy in 2019 hurt many people. Thousands lost their savings, and poverty spread throughout the country. Many believe that Salameh is partly to blame for these problems.
The justice ministry's decision to accuse him of financial crimes is seen as an important step. It shows that even powerful people can be held accountable. As Lebanon continues to face financial difficulties, what happens in Salameh’s case could affect the country’s future.
Protests will likely continue. Many people in Lebanon want to see justice served and hope that holding Salameh responsible will help rebuild trust in the country’s financial system.
