Report: Salameh Charges Likely Limited to $40M in Commissions

Media reports on Friday indicated that the legal proceedings against Riad Salameh, the former head of Lebanon’s Central Bank, will concentrate on accusations related to $40 million in commissions. According to Annahar newspaper, expanding the investigation to include all files could drag on for years, or even decades, due to the complex details and likely political interference which could obstruct and pressure the judiciary.

The newspaper further highlighted that politicians implicated in the investigations might be anxious about the potential outcomes. Legal experts informed Annahar that the investigation will probably be restricted to Salameh as part of a broader agreement that could involve other significant political and regional issues, including matters related to the presidency and the South.

Salameh, who is 73, was formally accused on Wednesday of embezzling $42 million. This charge by the Financial Public Prosecution came after he was detained following a detailed interrogation by Lebanon’s chief public prosecutor concerning multiple alleged financial crimes.

His legal case has now been forwarded to an investigative judge. Despite facing various allegations of corruption, embezzlement, and illicit enrichment over the years, Salameh has consistently maintained that his wealth is derived from inherited properties, investments, and his prior career as an investment banker at Merrill Lynch.

During a lengthy interrogation on Monday, Salameh was questioned about a specific incident where a company named Optimum was reportedly employed to manipulate financial statements and obscure Lebanon’s deteriorating financial state. Judicial sources revealed that Salameh may have used Optimum to facilitate the transfer of funds from the central bank to other accounts, ultimately benefiting himself.

Bank statements and other financial documents presented by the central bank’s financial intelligence unit supported these claims, as confirmed by two judicial officials to The Associated Press.

Salameh is also facing multiple legal challenges both in Lebanon and abroad. France, Germany, and Luxembourg are conducting investigations into him and his close associates for alleged illicit enrichment and laundering of around $330 million.

Salameh has denounced the European investigations, dismissing them as part of a coordinated media and political effort to make him a scapegoat. Meanwhile, the United States, the United Kingdom, and Canada have imposed sanctions on him and his associates. Additionally, France has issued an international arrest warrant against him. However, Lebanon does not extradite its citizens.