Lebanon's Former Central Bank Chief Arrested

Riad Salameh, former governor of Lebanon's central bank, was arrested in Beirut amid allegations of embezzling over $40 million, as both domestic and international investigations intensify. Salameh, who led the bank for 30 years until July 2023, is accused of financial crimes, including money laundering and illicit enrichment, with investigations revealing a network of shell companies involved in the alleged embezzlement. His arrest has been viewed as a pivotal moment in a country grappling with severe economic collapse, as public protests against corruption have surged since 2019. While he maintains his innocence and claims to be a scapegoat for Lebanon's economic crisis, international authorities, including Germany and France, have issued warrants for his arrest due to various financial allegations. The Lebanese judiciary's actions may be linked to efforts to avert placing the country on the FATF grey list, highlighting the ongoing struggle against systemic corruption. Salameh's arrest raises questions about the future of his trials both domestically and abroad, as judicial cooperation may be impacted pending the outcome of local investigations.