Former Lebanese Central Bank Governor Riad Salameh Freed on Record Bail

Lebanon’s former central bank governor, Riad Salameh, was released Friday after spending a year in detention on embezzlement charges, following the payment of what judicial officials described as the highest bail sum in the country’s history.

Bail and Release Conditions

Salameh, 75, walked out of Bhannes Hospital in northern Beirut, where he had been held under guard due to health concerns. A judicial source confirmed his release to AFP, speaking on condition of anonymity.

The ex-governor secured his freedom by paying more than $14 million, along with an additional five billion Lebanese pounds (around $55,000). Originally, bail was set at over $20 million, but it was reduced after his defense team submitted a request to the judiciary. Alongside bail, a one-year travel ban was immediately enforced.

“This marks the highest bail amount in Lebanese judicial history,” the official said, adding that all necessary documents had been signed to authorize his release.

Allegations and Legal Proceedings

Salameh, who led Lebanon’s central bank for three decades, has long faced accusations of financial misconduct, including embezzlement, money laundering, and tax evasion. He has consistently rejected all allegations, insisting his wealth stems from private investments and his previous career at Merrill Lynch in the United States.

He was first arrested in September 2023 and later indicted in April 2024 for allegedly siphoning $44 million from the central bank. Although his detention order technically expired earlier this month without trial, Salameh remained in custody until the bail arrangement was finalized.

The judiciary had already approved his release in two separate cases earlier in July. After posting bail, Salameh was reportedly questioned about the source of the funds and asked to provide documentation proving the money was not linked to illicit activities.

Salameh’s Defense and Public Perception

Salameh’s lawyer, Marc Habka, said his client remains in fragile health but emphasized their confidence in clearing his name. “We have presented to the court all the evidence,” Habka told reporters. “It’s the right of the Lebanese people to know the truth. If Riad Salameh is guilty, he will be convicted. If others are guilty, they will be convicted. If he is innocent, he will be acquitted.”

Despite his steadfast denials, Salameh is widely seen by many Lebanese as a central figure in the country’s devastating economic collapse, which the World Bank has described as one of the most severe financial crises globally since the mid-19th century.

The collapse, which began in 2019, has left much of Lebanon’s population facing poverty, currency freefall, and shortages of essential goods. Critics argue Salameh’s financial policies, including years of unsustainable debt management and monetary practices, played a major role in the meltdown. He, however, maintains that he has been unfairly targeted as a “scapegoat” for deeper political and systemic failures.

What Comes Next

Salameh stepped down as governor in July 2023 after 30 years in office. His release does not mark the end of his legal battles, as multiple investigations remain open in both Lebanon and abroad. European authorities, including prosecutors in France and Germany, have pursued parallel cases into alleged financial misconduct tied to his tenure.