The previous governor of Lebanon’s central financial institution (BDL), Riad Salameh, was arrested on Tuesday over alleged corruption. This occurred after he appeared earlier than the general public prosecutor on the Courtroom of Cassation regarding the embezzlement of BDL funds amounting to over $40 million. The embezzlement is alleged to have occurred in the course of the dealings of BDL and an organization known as Optimum Invest. The corporate offers within the provision of mounted brokerage providers to monetary establishments in addition to asset and wealth administration, gross sales, and buying and selling.
Different claims towards Mr. Riad embody illicit enrichment, forgery, and theft of public funds. In accordance with an area media supply, he has been involved in several scandals of economic malpractice and misappropriation of funds each inside and out of doors Lebanon. As an example, underneath his stewardship, BDL paid a sum of 5 hundred thousand {dollars} as hire for a home in Paris owned by Mr. Riad’s girlfriend within the guise of BDL for 11 years. The French authorities investigated him for this and different scandals of embezzlement of public funds. Different European international locations during which Mr. Riad carried out unlawful monetary dealings have additionally taken measures towards him. As an example, Germany issued an arrest warrant and launched investigations into his conduct. Nevertheless, the arrest warrant was canceled attributable to technical difficulties. The German authorities however continues to look into Mr. Riad. Furthermore, Interpolissued a red notice towards him for allegations of economic crimes.
By a press launch, Optimum Make investments disclosed that they’re absolutely cooperating with Lebanese authorities by procuring the wanted paperwork and offering mandatory info. It reiterated its stance as a clear firm, stating that its dealings with BDL have been legally compliant as evidenced by the shortage of detection of malpractice on its half when the corporate was audited in 2023.
Mr. Riad is presently in police detention as investigations proceed.
Source / Picture: jurist.org
