Tag: Riad Salameh

It was a long-expected move. The powerful former Lebanon Central Bank Governor Riad Salameh has been arrested and charged with embezzling $42 million in public funds, part of a broader $110 million fraud case. His detention comes amid ongoing domestic and international investigations into financial misconduct during his controversial three-decade tenure. In 2022, the European Union Agency for Criminal Justice Cooperation (Eurojust) froze assets worth €120 million tied to Salame.

In a bold move, the Swiss Financial Market Supervisory Authority (FINMA) has concluded its enforcement proceedings against Geneva-based private bank Banque Audi (Bank Audi), owned by a prominent Lebanese banking group. During an on-site inspection in 2021, FINMA discovered serious shortcomings in the prevention of money laundering and ordered the disgorgement of profits totaling CHF 3.9 million and a capital surcharge of CHF 19 million.

This is a new and interesting situation around the never-ending issue of international corruption. Interpol Red Notice wants an acting central bank chief on suspicion of corruption. Lebanon's interior minister, Bassam Mawlawi, informed Reuters on Friday that an Interpol notice has been received for Riad Salameh, the country's central bank governor. Mawlawi stated that the notice would be followed if the judiciary instructed him to do so.

Who says that only the crypto industry has a problem? The FIAT regiment is much worse, including regulators. According to SwissInfo, Lebanese authorities charged long-time central bank governor Riad Salameh, his brother Raja Salameh, and his assistant Marianne Howayek with money laundering, embezzlement, and illicit enrichment. Salameh has been heading Banque du Liban (BDL) since 1993. He is the longest-serving central bank governor in the world.