Lebanese Central Bank Chief’s Brother Investigated in France
Raja Salameh, brother of Lebanon’s former central bank governor Riad Salameh, has come under investigation in France as part of a corruption probe. This investigation is focused on the alleged embezzlement of over $330 million from Lebanon’s central bank. French authorities suspect that Raja, along with his brother, diverted these funds between 2002 and 2015, funneling them into European investments.
The case has drawn significant attention due to the extensive tenure of Riad Salameh as governor, a role he held for three decades. During this time, Riad became a prominent figure, especially as Lebanon grappled with severe economic challenges, culminating in the financial crisis that erupted in 2019.
Prosecutors from Germany, France, and Luxembourg have been actively involved in the investigation, conducting interviews with Lebanese bankers and officials in Beirut. The focus of their inquiries has been on the commissions collected by the central bank, which were purportedly transferred to Forry Associates, a company owned by Raja Salameh. The central bank allegedly collected these commissions from bond buyers and, instead of retaining them, funneled the money to Forry Associates without clear disclosure to private banks.
Despite the allegations, both Riad and Raja Salameh have denied any wrongdoing. Riad maintains that the $300 million was earned legally, emphasizing that he is being used as a scapegoat for the country’s financial woes. Pierre-Olivier Sur, Riad’s French lawyer, argued that the commissions were legitimate payments for intermediation work conducted by Forry Associates, authorized by the central bank’s management and supervisory bodies.
The revelations have intensified scrutiny of Lebanon’s financial sector and the role of its central bank. Lebanese authorities have also pursued their own investigations, leading to charges of illicit enrichment against Riad Salameh in March, which he has denied.
Riad Salameh continues to have the support of key Lebanese political figures, including Nabih Berri, the long-standing Speaker of Parliament. However, the unfolding investigations in Europe and Lebanon are likely to exert increasing pressure on him and his associates as authorities seek to uncover the full extent of the alleged financial misconduct.
The case highlights the broader challenges facing Lebanon, where endemic corruption and financial mismanagement have severely impacted the country’s economy, contributing to widespread public distrust in its institutions. As European prosecutors proceed with their investigation, the international community watches closely, hoping for accountability and transparency in addressing these serious allegations.

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