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German prosecutors have moved to confiscate assets worth around EUR 35 million that were seized as part of a long-running money laundering investigation linked to the former governor of Lebanon's central bank. The assets, comprising commercial properties in Munich and Hamburg and shares in a Düsseldorf-based real estate company, are alleged to be connected to funds diverted from Lebanon's central bank through a company controlled by the brother of ex-governor Riad Salameh. The case forms part of a broader European investigation involving authorities in France, Germany and Luxembourg. While Salameh has denied wrongdoing and said his investments were funded personally, Lebanese authorities have expressed interest in reclaiming any confiscated assets to support public finances strained after the country's 2019 financial collapse.
German prosecutors have applied to a regional court in Munich seeking the confiscation of property and company shares valued at approximately EUR 35 million that were seized during a money laundering investigation involving the former governor of Lebanon's central bank and several other defendants. Advertisement
The investigation, which began in mid-2021, is part of a wider European effort involving France, Germany and Luxembourg to determine whether tens of millions of dollars allegedly embezzled from Lebanon's central bank were laundered through assets held across Europe. According to prosecutors, the case is linked to Forry Associates, a company controlled by the brother of former Lebanese central bank governor Riad Salameh.
Investigators have alleged that Forry Associates was used as a conduit to divert around USD 330 million in public funds via commission arrangements. Both Salameh and his brother have denied the allegations. When approached for comment, Salameh said his lawyer would challenge the case and demonstrate that the investments were made using his own funds.
German authorities have clarified that the proceedings are separate from legal action underway in Lebanon. In Lebanon, Salameh and two lawyers have been indicted on charges including embezzlement of public funds, forgery and illicit enrichment. Salameh, who led the Lebanese Central Bank for around three decades, was detained for more than a year over alleged financial crimes linked to his tenure before being released after posting a record bail of USD 14 million. He remains in Lebanon and is subject to a travel ban.
As part of the German investigation, prosecutors seized three commercial properties located in Munich and Hamburg, together valued at about EUR 28 million, as well as shares worth roughly EUR 7 million in a Düsseldorf-based real estate company. The Munich prosecutor's office confirmed that it formally applied in January 2026 to the Munich regional court for the confiscation of the seized assets. However, it said it could not yet specify how the assets would be handled if the court approves the confiscation request.
Lebanese authorities have previously stated that they wish to reclaim any confiscated assets, viewing them as a potential means to help recapitalise state finances depleted in the lead-up to Lebanon's financial crisis in 2019.
Prosecutors also noted that the preliminary investigation has been provisionally suspended due to uncertainty over the whereabouts of some suspects, while reiterating that all defendants remain presumed innocent until a final judicial decision is reached.
Source - Reuters
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