Riad Salameh Faces Multiple Financial Crime Charges

Lebanon's former central bank governor, Riad Salameh, remains in custody after being arrested on charges of embezzlement, money laundering, fraud, and illicit enrichment. Once hailed as a financial savior, Salameh's reputation deteriorated following the 2019 financial crisis, which saw the Lebanese currency devalue by 90% and banks ration withdrawals. The charges stem from alleged illicit commissions and financial dealings with the Lebanese brokerage firm Optimum Invest, as well as a separate case involving Forry Associates, a firm linked to his brother. Multiple European countries have also charged him with embezzling hundreds of millions of dollars. Salameh's assets in Lebanon have been frozen, and he faces both local and international legal scrutiny. He is expected to remain in detention until his hearing next week.