Lebanon central bank governor faces new fraud, embezzlement charges

Lebanon central bank governor faces new fraud, embezzlement charges

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2023-02-23 | 11:35

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Lebanon central bank governor faces new fraud, embezzlement charges

Lebanese authorities charged longtime central bank governor Riad Salameh, his brother Raja and one of his assistants on Thursday with money laundering, embezzlement and illicit enrichment after months of delay in the high-profile case.

But the development has also prompted fears that authorities in Lebanon, where Salameh retains high-level political backing, could slow down cooperation with European investigators looking into the governor over the same accusations.

His latest term ends in July, and while he says he will not seek to stay on, Lebanon's finance minister told Reuters that Salameh's tenure could be extended along with other public servants as the governor would be difficult to replace.

In comments to Reuters on Thursday, Salameh said the charges were "not an indictment" and pledged to abide by judicial procedures.

"And as you know, one is innocent till proven guilty by a court of law," he said in a written response to questions.

The charges are the product of an 18-month probe by Lebanon into whether Salameh and his brother Raja embezzled more than $300 million from the Central Bank between 2002 and 2015.

Judicial authorities in at least five European countries are investigating the Salameh brothers