Lebanese court orders seizure of central bank governor Riad Salameh’s assets

Lebanese court orders seizure of central bank governor Riad Salameh’s assets

A Lebanese court ruled on Monday to seize the assets of central bank governor Riad Salameh.

In a statement from the Ministry of Justice, Judge Faisal Makki ruled that Salameh’s assets – including his house in Beirut’s Rabieh area, other property and personal allocation in Banque du Liban, Lebanon’s central bank – would be seized with immediate effect.

A group of lawyers filed a lawsuit last month alleging that the governor had violated a number of articles in the penal code including committing fraud, job negligence, and undermining the finances of the state.

The group of lawyers who issued the suit is comprised of Hasan Bazzi, Haitham Ezzo, Jad Tohme, Joseph Wanis, Pierre El-Gemayel, Francois Kamel, Bassel Abbas.

The ruling comes as Salameh receives increasing criticism for his complicity in a poorly-managed banking and finance sector, which many have likened to a regulated Ponzi scheme.

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