BEIRUT: A French court Tuesday upheld the freezing of the assets of Lebanon’s embattled central bank governor, rejecting his appeal to have them released, an official close to the investigation said.
Several European countries are investigating central bank Gov. Riad Salameh and his associates over myriad alleged financial crimes, including illicit enrichment and laundering of $330 million. A French investigative judge on May 16 issued an international arrest warrant, or Interpol red notice, for the 72-year-old Salameh after he failed to show up in Paris for questioning.
France, Germany and Luxembourg in March 2022 froze more than $130 million in assets linked to the investigation. The European Union Agency for Criminal Justice Cooperation, or Eurojust, said at the time that the investigation targets five suspects accused of money laundering.
Salameh, who has repeatedly denied charges of corruption had requested that his assets be unfrozen. On Tuesday, a French appeals court rejected his appeal, saying that his assets will remain frozen, according to an official close to the investigation who spoke on condition of anonymity in line with regulations.
The central governor has repeatedly said that he made his wealth from his years working as an investment banker at Merrill Lynch, inherited properties and investments. He said he would only resign if convicted of a crime.
A Lebanese judge representing the Lebanese state earlier this year charged Salameh, his brother Raja and associate Marianne Hoayek with corruption.
Last week, Hoayek was questioned in France and she signed a document pledging not to return to work at the central bank and not to have any contacts with the Salameh brothers and paid a 1.5 million-euro ($1.63 million) bail, Lebanese judicial officials said. During her questioning, Hoayek denied charges of corruption saying that most of her money were inherited from her father.
Salameh and his brother Raja didn’t go to France for questioning.
During a visit to Lebanon in March, a European delegation questioned Salameh about the Lebanese central bank’s assets and investments outside the country, a Paris apartment — which the governor owns — and his brother’s brokerage firm.
Reports have circulated that the Lebanese central bank had hired Forry Associates Ltd., a brokerage firm owned by Raja, to handle government bond sales from which the firm received $330 million in commissions.
Riad Salameh, a Lebanese-French citizen, has held his post for almost 30 years, but says he intends to step down after his current term ends at the end of July.
Once hailed as the guardian of Lebanon’s financial stability, Salameh since has been heavily blamed for Lebanon’s financial meltdown. Many say he precipitated the nearly four-year economic crisis, which has plunged three-quarters of Lebanon’s population of 6 million into poverty.
French court upholds freezing of assets of Lebanon’s embattled central bank chief
https://arab.news/beuns
French court upholds freezing of assets of Lebanon’s embattled central bank chief
- France, Germany and Luxembourg in March 2022 froze more than $130 million in assets linked to the investigation
- Salameh, who has repeatedly denied charges of corruption had requested that his assets be unfrozen
Great expectations: Yemenis look forward to outcomes of Riyadh dialogue
- Southern factions look to Saudi-hosted talks to defuse tensions after December’s violent escalation
- Analysts say Riyadh dialogue could help reset the southern cause — but only if militias are excluded
RIYADH: Last December marked a troubled end to the year in Yemen, particularly in its southern and eastern governorates. While much of the world marked the season with hopes for peace and stability, developments on the ground took a sharply different turn.
The Southern Transitional Council (STC), led by Aidarous Al-Zubaidi, moved to seize control of state institutions and military camps, defying expectations in Hadramout and Al-Mahra and mounting a direct challenge to the internationally recognized government.
These actions, carried out through armed force and supported by external actors, led to casualties and an escalation of tensions in both governorates.
In response, Yemen’s political leadership appealed to the Saudi-led coalition to contain the situation, called for the withdrawal of Emirati forces, and initiated operations to reassert control over military headquarters in Hadramout and Al-Mahra.
Subsequently, Rashad Mohammed Al-Alimi, chairman of the Presidential Leadership Council, asked Saudi Arabia to host a conference in Riyadh, bringing together all southern factions to discuss solutions — a request accepted by the Saudi leadership.
The initiative comes amid the Kingdom’s affirmation of the legitimacy of the southern cause, coupled with its clear rejection of any solution imposed by force.
Arab News surveyed the views of several Yemeni politicians and analysts on their expectations for the conference, convened at a critical and highly sensitive juncture, and on the key issues anticipated to dominate the dialogue.
Among them was Salah Batis, a member of the Yemeni Shura Council, a member of the Preparatory Committee for the Unified Council of the Eastern Governorates, and a prominent figure in Hadramout.
“We extend our sincere gratitude to our brothers in the Kingdom of Saudi Arabia — both leadership and people — for their steadfast support, assistance, and courageous stand alongside the people of Hadramout and the eastern governorates in particular, and Yemen as a whole,” Batis told Arab News.
“Without this support, and without the role of the Saudi Air Force, this victory would not have been achieved, security would not have been restored, and this militia would not have been removed from these sensitive areas, especially Hadramout and the eastern governorates.
“We also express our appreciation to the political leadership, represented by the chairman of the Presidential Leadership Council, Dr. Rashad Al-Alimi, and to the governor of Hadramout and commander of the Homeland Shield Forces, Salem Al-Khanbashi.
“Our gratitude further extends to the heroes of the Homeland Shield Forces, the armed forces, and the security forces who participated in the operation to take control of the camps. It was a swift and decisive operation, carried out at minimal cost, praise be to God.”
However, Batis said he opposes the inclusion of the STC in the upcoming Riyadh conference, citing its involvement in the killing and terrorizing of civilians in Hadramout and Al-Mahra.
He described the call for dialogue as “a positive step toward preserving the southern cause, which the STC had sought to hijack and undermine, nearly causing severe damage had it not been for swift and decisive intervention.”
Batis said the southern cause must represent all southerners without exception, and that no single party should monopolize it or claim exclusive representation. He said the STC had already harmed the cause by using armed violence to advance its agenda, resulting in killings.
For this reason, he said, the people of Hadramout — where many of these violations occurred — have demanded, and continue to demand, accountability for those responsible and their exclusion from the dialogue.
He accused the STC of mobilizing armed forces, invading governorates, killing tribesmen, attacking villages and civilians, storming and looting state camps, and destroying public institutions, including airports, ports, oil facilities, and government offices in Seiyun, Mukalla, and other locations.
Batis said the STC and its leadership bear full responsibility, arguing they had led and directed the armed groups toward Hadramout under the banner of southern forces.
He questioned how the people of Hadramout and the eastern governorates could accept belonging to such a region after what had occurred, noting that these forces operated under a declared leadership and a self-proclaimed supreme commander.
Batis said local communities viewed them as invading forces that killed civilians, shed blood, attacked state institutions, and seized military camps.
He added that, were it not for the decisive intervention of allied forces and local authorities — leading to the return of the camps, the repair of the damage, and the withdrawal of these militias to their original positions — the consequences would have been far more severe.
“I believe this dialogue and conference must have a clear and firm framework: no group that possesses weapons, militias, or armed forces should take part,” Batis said.
“Arms must be exclusively in the hands of the state, under the authority of the ministries of defense and interior, and sovereignty must rest solely with the state — not with parties, factions, or individuals.”
Batis warned against repeating what he described as the mistake of 2013, when the Houthi group was allowed to participate in the National Dialogue Conference while still armed and expanding its territorial control.
He recalled that by January 2014 the Houthis had seized Amran Governorate and laid siege to Sanaa, halting the drafting of the federal constitution and forcing meetings to be held at the Presidential Palace.
Batis noted that he was serving at the time as vice president of the National Authority tasked with monitoring the implementation of the dialogue’s outcomes, before the Houthis later stormed the capital and plunged the country into a crisis that continues to this day.
For his part, political analyst and activist Youssef Ismail Abdo said that any fair and equitable outcomes from the conference would help stabilize the south — particularly Hadramawt and the eastern governorates — fostering security, development, and stability, with positive implications for all of Yemen and the wider region.
Also speaking to Arab News, Dr. Nasser bin Habtour, secretary-general of the Shabwa National Council, said that “the south is home to multiple political projects, including secession and a federal state.
“The events of December demonstrated that not all southerners support secession, leaving the STC isolated in its unilateral move. In my opinion, all political options should be placed on the dialogue table so that southerners can discuss them and reach a unified vision.”
He argued that “secession is neither feasible nor appropriate at the present stage, given Yemen’s dire circumstances, with the Houthi militia controlling Sanaa and state institutions and posing a serious threat to Yemen and the wider region.”
He stressed that “restoring the Yemeni state must come first, after which all political projects can be presented to the people, who should then decide the future form of the state.”
He added: “The meeting, to be held in Riyadh, came at the request of southern political and social figures and groups who convened after recognizing both their responsibility and the danger into which the STC had placed the southern cause.
“They contacted the chairman of the Presidential Leadership Council, urging him to ask the Kingdom to host a southern dialogue conference.” He noted that “this initiative was consistent with Saudi Arabia’s longstanding role in supporting Yemen.”
“The conference must focus on repairing the damage inflicted on the southern cause by the STC’s unilateral decisions and attempts to monopolize it, as well as restoring the issue to its proper course through a consensual vision shared by the people of the south.”
Regarding the expected outcomes of the comprehensive southern national dialogue, Habtour said: “The first priority is reaching consensus on a unified southern vision that reflects the aspirations of the people of the south.”
He added: “The southern issue must be situated within the broader national struggle to restore the state from the Houthi militia, as well as integrated into the negotiation process aimed at restoring security and stability in Yemen.”
He further stressed “the importance of defining the role of southerners in the upcoming phase, particularly within the framework of a future federal state and their contribution to nation-building and development.”
