BEIRUT, Lebanon, Jan. 8 (UPI) -- Lebanon's Central Bank governor, Karim Souaid, said Thursday the bank is pursuing domestic and international legal action to recover misused or embezzled public funds, with the aim of restoring liquidity and repaying bank depositors affected by the 2019 financial collapse.
Souaid said during a news conference in Beirut that the Central Bank has filed a criminal complaint against a former bank official, whom he did not name, and a former banking professional for misappropriating the bank's funds through four shell companies established in the Cayman Islands.
He said the actions led to the illicit enrichment of the two defendants and others who will be identified as the investigation continues.
"This involved exploiting the Central Bank's resources for personal gain," he added, citing suspected money laundering involving bribes integrated into broader financial transactions.
He said the case involves Forry Associates, controlled by Raja Salameh, brother of former Central Bank Governor Riad Salameh, who stepped down in 2023 and was jailed a year later on corruption charges, accused of embezzling more than $300 million between 2002 and 2015.
