The US Treasury Department on Thursday announced sanctions on Riad Salameh, Lebanon’s former central bank governor, Report informs, citing the US Treasury.
"Today, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating the former governor of Lebanon’s central bank, Riad Salameh (Salameh), whose corrupt and unlawful actions have contributed to the breakdown of the rule of law in Lebanon," the US Treasury said in a statement.
The statement also notes that OFAC is also designating "four close associates of Salameh, including members of Salameh’s family and his primary assistant, who helped to conceal and facilitate this corrupt activity."
It added that the United States is taking this action alongside United Kingdom and Canada.
According to the statement, Salameh used his office to engage in a variety of unlawful self-enrichment schemes with the help of close family members and associates.
"In one scheme, Salameh — with the assistance of his brother, Raja Salameh (Raja) — used a shell company owned by Raja in the British Virgin Islands, Forry Associates, to divert approximately $330 million from transactions involving the BdL," it said.