Lebanon’s judiciary has filed a lawsuit against former and current high-ranking employees of the country’s central bank, holding them accountable for their role in the worst financial collapse in decades. The case, led by Judge Helena Iskandar, accuses former governor Riad Salameh, acting governor Wassim Mansouri, and members of the central bank’s board of negligence, abuse of power, and mismanagement that contributed to the national currency’s dramatic downfall.

The lawsuit, submitted to Lebanon’s financial court, alleges that circulars issued by the central bank leadership violated the Code of Money and Credit, worsening the country’s economic crisis. Judicial sources told Al-Modon that the officials had “approved and signed decisions that contradicted Lebanese financial law, disregarding their legal responsibilities.”

“The circulars issued by Salameh were approved by all members of the central council, making them complicit in breaking the law, aiding and abetting Salameh, and covering up his directives, which were designed for his personal gain. As a result, they are liable for financial and moral compensation, amounting to approximately $140 billion for each category, in addition to damages,” one source explained.

For decades, Lebanon’s central bank operated with little transparency, shielding controversial financial policies that ultimately unraveled in 2019, triggering a severe economic meltdown. While Salameh has long faced legal scrutiny, this marks the first time that Lebanon’s state institutions have directly accused both former and current central bank leaders of misconduct. Lebanon’s economic collapse, which saw the national currency lose over 98% of its value, has left millions in financial distress.

Salameh, who has been detained for months as he faces multiple lawsuits in Lebanon and Europe, is accused of forming a criminal network, abusing his position for personal enrichment, and embezzling state funds. Investigations have revealed that he funneled money from the central bank to associates’ accounts before transferring it to his personal holdings.

Mansouri, who took over as acting governor following Salameh’s departure, has sought to distance himself from his predecessor. However, the Lebanese judiciary has repeatedly requested banking records that could implicate Salameh—requests that Mansouri initially ignored. In July 2024, he took legal action against Salameh outside Lebanon, signaling a shift in the central bank’s position and an attempt to portray the institution as a victim of Salameh’s misconduct.

The lawsuit demands financial and moral compensation from the accused, estimating damages at approximately $140 billion. Judicial sources say that all members of the central council who endorsed Salameh’s policies are now liable.

The central council, which oversees Lebanon’s monetary policy, includes the governor, four deputy governors, the director-general of the Ministry of Economy, and the director-general of the Ministry of Finance. Both past and present council members have been named in the lawsuit.

Legal notifications are expected to be delivered in the coming days, after which the officials will be summoned to appear before the Lebanese judiciary. The outcome of the case could set a precedent for accountability in Lebanon’s financial sector, which has long operated with little oversight amid allegations of corruption and mismanagement.