The former governor of Lebanon’s central bank (BDL), Riad Salameh, was arrested on Tuesday over alleged corruption. This occurred after he appeared before the public prosecutor at the Court of Cassation concerning the embezzlement of BDL funds amounting to over $40 million. The embezzlement is alleged to have occurred during the dealings of BDL and a company called Optimum Invest. The company deals in the provision of fixed brokerage services to financial institutions as well as asset and wealth management, sales, and trading.

Other claims against Salameh include illicit enrichment, forgery, and theft of public funds. According to a local media source, he has been involved in several scandals of financial malpractice and misappropriation of funds both within and outside Lebanon. For instance, under his stewardship, BDL paid a sum of five hundred thousand dollars as rent for a house in Paris owned by Salameh’s girlfriend in the guise of BDL for 11 years. The French government investigated him for this and other scandals of embezzlement of public funds.  Other European countries in which Salameh carried out illegal financial dealings have also taken measures against him. For instance, Germany issued an arrest warrant and launched investigations into his conduct. However, the arrest warrant was canceled due to technical difficulties. The German government nevertheless continues to look into Salameh. Moreover, Interpol issued a red notice against him for allegations of financial crimes.

Through a press release, Optimum Invest disclosed that they are fully cooperating with Lebanese authorities by procuring the needed documents and providing necessary information. It reiterated its stance as a transparent company, stating that its dealings with BDL were legally compliant as evidenced by the lack of detection of malpractice on its part when the company was audited in 2023.

Salameh is currently in police detention as investigations continue.