U.S., U.K. and Canada sanction Lebanon's former central bank governor over corruption allegations
Riad Salameh, 73, ended his 30-year tenure on July 31 under a cloud of investigation and blame for his country's historic economic crisis.
The statement said the U.S. coordinated the sanctions with the U.K. and Canada and that assets connected to Salameh would be frozen. The U.S. also sanctioned Salameh's son Nady, brother Raja, close associate Marianne Hoayek and "former partner" Anna Kosakova. The U.K. sanctioned the same list of people except Nady Salameh, and Canada sanctioned only Salameh, his brother and Howayek.
U.S. officials said Salameh allegedly hid his identity through Panama shell companies and a trust in Luxembourg in a scheme where he purchased shares in a company his son Nady worked for as an investment advisor. He then sold those shares to a Lebanese bank regulated by the Central Bank, which the U.S. Treasury said was a conflict of interest and likely violated a Lebanese law that banned central bank employees from profiting from private businesses .
Nady Salameh was sanctioned as "the publicly registered officer" of companies registered in Luxembourg that purchased high-end real estate worth tens of millions of dollars through subsidiary companies in Belgium and Germany. Salameh has has criticized the European probe and said it was part of a media and political campaign to scapegoat him.
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