Riad Salameh has denied all the charges against him. Reuters
Riad Salameh has denied all the charges against him. Reuters
Riad Salameh has denied all the charges against him. Reuters
Riad Salameh has denied all the charges against him. Reuters

French court upholds seizure of Lebanese banker Riad Salameh's assets


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The Paris Court of Appeal has upheld seizure orders issued as part of a continuing investigation of Lebanon's central bank governor Riad Salameh, a source close to the matter told The National.

A European joint investigative team issued orders to freeze more than $100 million worth of property and bank accounts across Europe belonging to Mr Salameh and his relatives, which it suspected to have been acquired through extensive embezzlement from the Lebanese central bank.

The court's ruling followed a plea from Mr Salameh's legal team to release the assets.

The orders pose "countless issues", Pierre Olivier Sur, Mr Salameh's lawyer in France, told The National after the first hearing on the matter in April.

If it is proven that Mr Salameh misappropriated public funds for personal gain, the assets in question could be sold, with the proceeds being repatriated to the Lebanese state.

Most of the assets were frozen in March last year following a European crackdown on money laundering in Lebanon.

The operation was conducted as part of a joint investigation led by judicial authorities from France, Germany and Luxembourg, and led to the seizure of assets totalling €120 million ($130 million) belonging to the governor and four of his family members.

Mr Salameh is facing investigations in six European countries, which suspect him of having embezzled more than $330 million from Lebanon's central bank with the help of his brother Raja and using the proceeds to purchase luxurious properties in Europe.

He has denied any wrongdoing.

In May, France and Germany issued arrest warrants for Mr Salameh and notified Interpol, which issued a red notice.

Mr Salameh has said he intends to step down from his post, which he has held for 30 years, when his current term ends at the end of this month. The Lebanese government has not indicated whether it was considering removing him before then.

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

UAE currency: the story behind the money in your pockets
Anxiety and work stress major factors

Anxiety, work stress and social isolation are all factors in the recogised rise in mental health problems.

A study UAE Ministry of Health researchers published in the summer also cited struggles with weight and illnesses as major contributors.

Its authors analysed a dozen separate UAE studies between 2007 and 2017. Prevalence was often higher in university students, women and in people on low incomes.

One showed 28 per cent of female students at a Dubai university reported symptoms linked to depression. Another in Al Ain found 22.2 per cent of students had depressive symptoms - five times the global average.

It said the country has made strides to address mental health problems but said: “Our review highlights the overall prevalence of depressive symptoms and depression, which may long have been overlooked."

Prof Samir Al Adawi, of the department of behavioural medicine at Sultan Qaboos University in Oman, who was not involved in the study but is a recognised expert in the Gulf, said how mental health is discussed varies significantly between cultures and nationalities.

“The problem we have in the Gulf is the cross-cultural differences and how people articulate emotional distress," said Prof Al Adawi. 

“Someone will say that I have physical complaints rather than emotional complaints. This is the major problem with any discussion around depression."

Daniel Bardsley

RESULTS

Bantamweight: Victor Nunes (BRA) beat Azizbek Satibaldiev (KYG). Round 1 KO

Featherweight: Izzeddin Farhan (JOR) beat Ozodbek Azimov (UZB). Round 1 rear naked choke

Middleweight: Zaakir Badat (RSA) beat Ercin Sirin (TUR). Round 1 triangle choke

Featherweight: Ali Alqaisi (JOR) beat Furkatbek Yokubov (UZB). Round 1 TKO

Featherweight: Abu Muslim Alikhanov (RUS) beat Atabek Abdimitalipov (KYG). Unanimous decision

Catchweight 74kg: Mirafzal Akhtamov (UZB) beat Marcos Costa (BRA). Split decision

Welterweight: Andre Fialho (POR) beat Sang Hoon-yu (KOR). Round 1 TKO

Lightweight: John Mitchell (IRE) beat Arbi Emiev (RUS). Round 2 RSC (deep cuts)

Middleweight: Gianni Melillo (ITA) beat Mohammed Karaki (LEB)

Welterweight: Handesson Ferreira (BRA) beat Amiran Gogoladze (GEO). Unanimous decision

Flyweight (Female): Carolina Jimenez (VEN) beat Lucrezia Ria (ITA), Round 1 rear naked choke

Welterweight: Daniel Skibinski (POL) beat Acoidan Duque (ESP). Round 3 TKO

Lightweight: Martun Mezhlumyan (ARM) beat Attila Korkmaz (TUR). Unanimous decision

Bantamweight: Ray Borg (USA) beat Jesse Arnett (CAN). Unanimous decision

Updated: July 26, 2023, 11:23 AM