BEIRUT (AP) — A former Lebanese Cabinet minister has been arrested and charged after an investigation into alleged financial crimes, judicial and security officials told The Associated Press. Former Economy Minister Amin Salam was detained after a three-hour interrogation about illegal use of ministry funds and use of suspicious contracts. The three judicial officials and […]
Business
A former Lebanese economy minister is arrested on corruption charges
Audio By Carbonatix
BEIRUT (AP) — A former Lebanese Cabinet minister has been arrested and charged after an investigation into alleged financial crimes, judicial and security officials told The Associated Press.
Former Economy Minister Amin Salam was detained after a three-hour interrogation about illegal use of ministry funds and use of suspicious contracts. The three judicial officials and one security official spoke on condition of anonymity because they were not authorized to speak to the press.
Lebanon has been trying to reform its battered economy, which for decades has been rife with profiteering.
Salam has been charged with forgery, embezzlement, and misuse of public funds. Local media said it was related to alleged extortion of private insurance companies and using funds from a committee that supervises those companies for his own expenses.
Salam did not directly comment. On Monday, however, he shared a video on social media that denied the reports and asserted that his use of those funds was to increase the committee’s efficacy and transparency.
Salam was economy minister for over three years. He was appointed in 2021 at a time when Lebanon’s economy had plummeted and the country was plagued by severe power outages, fuel shortages and stark food inflation.