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Africa - Nigeria - September 3, 2024

Former Lebanon Central Bank Chief Arrested for Embezzlement

Riad Salameh, the former governor of Lebanon’s central bank, was arrested on Tuesday following a judicial hearing in Beirut. Salameh, who served as the central bank governor for 30 years, faces multiple charges including embezzlement, money laundering, and illicit enrichment.

The arrest marks the first time Salameh has been detained despite facing numerous accusations over the years. “This is a pivotal moment in our fight against corruption,” said a government spokesperson. “We are committed to holding those responsible for financial crimes accountable.”

Salameh has consistently denied any wrongdoing. “I have always acted in the best interest of Lebanon,” he stated in a previous interview. However, the charges against him include allegations of diverting public funds through commissions earned from the central bank’s dealings with brokerage firms.

The international community has been closely monitoring the situation, with several countries issuing arrest warrants for Salameh. “This arrest is a step towards justice,” said a representative from a human rights organization. “It sends a strong message that financial crimes will not be tolerated.”

Lebanon’s economic crisis has been exacerbated by allegations of corruption at the highest levels of government. The arrest of Salameh is seen as a crucial step in addressing these issues and restoring public trust in the country’s financial institutions.

This case continues to unfold, with further investigations expected to shed more light on the extent of the alleged financial misconduct.