Nady Salameh, the son of the former Lebanese Central Bank chief Riad Salameh, and Marwan Issa El Khoury, one of his lawyers, were placed under formal investigation in December and January in Paris as part of a continuing inquiry into the embezzlement of public funds, a source close to the case has told The National.
The former central bank governor was charged with financial crimes by a court in Beirut in September. Earlier this month, Lebanon filed a lawsuit against HSBC in Switzerland – its first legal action against a foreign bank related to the case.
Nady Salameh was placed under formal investigation on January 9 for criminal conspiracy to commit crimes including the embezzlement of public funds, corruption and for organised money laundering. He presented himself as a “collateral victim” to the actions of his father and uncle Raja Salameh, AFP reported.
“I have been suffering for three years from the consequences of things I did not participate in, things my father and my uncle did,” Nady Salameh told the judges.
Mr El Khoury, one of Riad Salameh's lawyers and his nephew, was “placed under formal investigation” for the same offences on December 18, after two days of questioning. He said he was “humiliated” in Lebanon and put forward his “total distance” from the facts presented against him in the investigation.
“The essence of the mechanisms of systematic looting of Lebanon's public resources by a family clan has now been ended,” William Bourdon, the lawyer who initially brought legal action against Riad Salameh in France, told The National.
“The investigation continues. We can reasonably hope for a trial at the end of 2026,” he added.
Riad Salameh was the governor of Banque du Liban for 30 years but his legacy is marred by allegations of financial crimes through the embezzlement of public funds. He is wanted by authorities in France for alleged financial crimes and has an Interpol “red notice” issued.
He has been accused by many in Lebanon for being responsible for the financial crisis the country has been grappling with since 2019.