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Judicial probe widens: Legal storm over former Economy Minister Amin Salam amid financial scandal
News Bulletin Reports
21-03-2025 | 13:50
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Judicial probe widens: Legal storm over former Economy Minister Amin Salam amid financial scandal
Report by Lara El Hachem, English adaptation by Yasmine Jaroudi
Lebanon's former Economy Minister Amin Salam has left office, but his tenure continues to face scrutiny as legal proceedings unfold.
The country's top prosecutor, Judge Jamal Al-Hajjar, has issued a precautionary travel ban against Salam following a report from the parliamentary Economy Committee, which raised serious financial misconduct allegations, according to judicial sources.
After months of investigation, the committee formally filed a complaint against four individuals, including Salam, his brother Karim, and his advisor through its chairman, MP Farid Boustany.
The charges include embezzlement, extortion, misappropriation of public funds, and money laundering. Despite multiple summonses from the committee, Salam failed to appear for questioning, citing various reasons each time.
The investigation suggests that Salam abused his authority over Lebanon's insurance regulatory body by withdrawing $50,000 and LBP 2 billion monthly from its funds. Only $17,500 was reportedly allocated for salaries, while the remainder was spent on the minister's office expenses.
Additionally, several contracts signed during his tenure were found to be inflated, including a $640,000 deal with a Malaysian company for a two-week training program and a $75,000 annual contract with a lawyer.
Sources indicate that the lawyer admitted to receiving only $20,000, with the remainder allegedly funneled to Karim Salam. Another questionable contract involved a $150,000 agreement with an auditor for the insurance oversight body, most of which, according to the committee, were awarded without competitive bidding.
Meanwhile, the Financial Public Prosecutor's Office is investigating allegations of extortion involving insurance companies. The judiciary has already convicted one of Salam's unofficial advisors and recommended legal action against several individuals, including his brother Karim, whose bank accounts have been frozen by Lebanon's Special Investigation Commission.
According to LBCI sources, the prosecutor's office is set to summon Salam as a witness in the initial phase of the probe, given his status as a lawyer, which requires special authorization from the Bar Association before any formal charges can be filed against him.
His legal representative is expected to request the lifting of the travel ban, arguing that it also requires approval from the association. Salam has reportedly expressed willingness to appear before the judiciary.
As the investigation unfolds, questions arise over whether this case will follow Lebanon's long-standing pattern of political impunity or mark a turning point in accountability.
In an effort to curb future abuses, MP Razi El Hage is set to propose a law granting financial and administrative independence to Lebanon's insurance regulatory body, limiting the economy minister's influence over its operations.
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