The first investigating judge in Beirut, Rula Osman, issued an arrest warrant on 5 November 2026 against Riad Salamé in the Forry Associates case. The decision comes after the questioning of the former Governor of the Bank of Lebanon, according to the East-The Day. Lebanon24 also reported the issuance of the mandate. This is an act of investigation, not a conviction.
A new step in the Forry survey
Forry Associates, a company headed by Raja Salamé, brother of the former governor, is at the centre of suspicions about commissions and embezzlements. The amounts reviewed are estimated at approximately $330 million. Riad Salamé contests the accusations of financial malfeasance.
According to the East-On-the-Day report, the former governor was assisted by a lawyer at the hearing. Representatives of the Bank of Lebanon and the Litigation of the State participated. The newspaper indicated that the next hearing was scheduled for November 18.
Several procedures to distinguish
The same newspaper reports that Riad Salamé was also interrogated on 5 November in the V-Invest file. This procedure and that of Forry must be distinguished. The mandate announced concerns Forry; It alone does not make it possible to draw conclusions on other cases.
The distinction also applies to investigations conducted abroad. Procedures for financial intermediaries may relate to their own control obligations, while the Lebanese case seeks to establish the criminal responsibilities of the persons involved.
The context of banking controls in Switzerland
In a press release dated 18 June 2024, the Swiss Federal Securities and Markets Supervisory Authority, FINMA, had found serious breaches by HSBC Private Bank (Switzerland) in the prevention of money laundering. The regulator described transactions of more than $300 million between 2002 and 2015, with transfers from a state institution in Lebanon to Switzerland, and mainly to other Lebanese accounts.
This statement did not name the two politically exposed persons concerned. It established breaches of banking supervision, without constituting a criminal judgement against Riad Salamé. Judicial proceedings relating to Forry circuits and prudential supervision of banks therefore have distinct objects and consequences.
The presumption of innocence remains
At this stage, new information is the issuance of a warrant in an ongoing investigation. Suspects of the origin, destination and use of funds remain to be assessed by the courts. The amount of $330 million cited in the case file should not be presented as an amount the diversion of which has already been finally tried in this proceeding.
The continuation of hearings should clarify the facts and possible responsibilities. Riad Salamé and the other persons involved enjoy the presumption of innocence.
Sources
- East Day, arrest warrant in Forry, 5 November 2026.
- Lebanon24, fil Riad Salamé, announcement dated November 5, 2026.
- FINMA, press release on HSBC Private Bank (Switzerland), 18 June 2024, used as a historical context.
Illustration: Beirut Courthouse, photo of Libnanews archives. The exact date of shooting is not documented; this image does not show the hearing of November 5, 2026.
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