HSBC sued over ex-Lebanon central bank chief's money laundering by French prosecutors

French media reported that the Swiss subsidiary of HSBC was formally prosecuted by French authorities for allegedly assisting former Lebanon central bank governor Riad Salameh in money laundering and criminal conspiracy, including embezzlement, breach of trust, and bribery of public officials.

Salameh ran Lebanon's central bank for 30 years until 2023. French authorities began investigating in 2021, suspecting he embezzled public funds through the European banking system. Salameh denies any wrongdoing, claiming his wealth came from private investments and savings.

French prosecutors believe HSBC was involved in the operations, helping Salameh transfer illegal proceeds. The local court demanded HSBC pay an €80 million guarantee for potential future fines. HSBC declined to comment but said it will continue to cooperate with authorities.