Nephew of former Lebanese central bank chief Riad Salameh charged in Paris
The nephew of former Lebanon central bank governor Riad Salameh has been formally charged in Paris in a case involving ill-gotten gains, a source told The National.
Emile Salameh, 38, son of Raja Salameh, was charged on February 12 with criminal conspiracy, money laundering, and receiving stolen goods, following interrogation before a financial investigating judge, AFP reported.
Emile Salameh is suspected of having bought two flats in Paris and villas in Lebanon through a series of financial arrangements set up by his father.
Emile Salameh is also accused of managing, through a similar arrangement, two companies registered in the UK that own properties in London, the report said.
The National has identified assets under investigation in Paris based on confidential documents concerning Raja Salameh and his family.
The properties include two flats bought on Avenue Victor Hugo for €3.6 million ($3.9 million) in 2013 and on Avenue Raymond Poincare for €1.2 million in 2011.
These have been rented since then for about €4,000 a month.
Riad Salameh, with the help of his brother Raja, is suspected of setting up a money laundering scheme inside the Banque du Liban through a 0.38 per cent commission imposed by a shell company, Forry Associates, on commercial banks for each transaction with the central bank.
The commission money is suspected to have been invested in US and European property concerns.
About $92 million worth of property has been confiscated by European authorities.
Stephane de Navacelle, Emile Salameh’s lawyer, did not comment on the case’s details.
He told The National in an email that his client “has been interviewed in connection with an investigation opened for actions attributable to others and in which he was not involved”.
“Mr Salameh has endeavoured to assist to his full ability the investigators and will continue to do so without restraint.
He is confident that the investigation will conclude to no wrongdoing on his part,” Mr de Navacelle said.
Three other people, at least, are under formal investigation in France in connection with this case: Riad Salameh’s former assistant at the BDL, Marianne Hoayek, his former romantic partner, Anna Kosakova, and former minister of state Marwan Kheireddine. The Salameh brothers have denied any wrongdoing.
Riad Salameh claimed his wealth was lawfully acquired through the investments he made before he was appointed as BDL governor in 1993. He stepped down from the post at the end of his term last July.
Riad Salameh said that he has made his money through his time as an investment banker, investments and other legal ways.
As the long-term governor of the central bank, he has been one of the figures held responsible for the 2019 economic collapse in Lebanon said to have followed decades of mismanagement and corruption among the country’s ruling elite – including its bankers.