Ex-minister accused of embezzling Lebanon's insurance fund freed on $100,000 bail
Amin Salam, Lebanon's Minister of Economy and Trade from September 2021 to February 2025, was arrested on June 11, 2025 over alleged falsification, embezzlement of public funds and blackmailing insurance companies. The case followed complaints including one from MP Farid Boustany, who chairs parliament's economy committee, and a June 2 complaint by the acting head of the State Litigation Department. Boustany's committee alleges Salam awarded overpriced contracts to foreign firms for services that did not justify the costs and misappropriated funds from the Insurance Companies Contribution Fund, which the Economy Ministry oversees. Salam denied any wrongdoing at a March 2025 press conference and called the scrutiny 'attacks' against him. In December 2025 Judge Kamal Nassar approved his release on bail of 9 billion Lebanese lira (about $100,000) and imposed a travel ban; he had been held since June.
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- The National
Judge Kamal Nassar ordered Salam to pay 9 billion Lebanese lira and imposed a travel ban after his release on bail
Judge Kamal Nassar ordered Salam to pay 9 billion Lebanese lira and imposed a travel ban after his release on bail, following charges of falsification, embezzlement and blackmail.
The committee alleges Mr Salam awarded overpriced contracts to foreign firms for services that did not justify the costs, and misappropriated funds from the Insurance Companies Contribution Fund, which is overseen by the Economy Ministry.
The complaint accuses Salam of blackmailing private insurance companies and using funds from the Insurance Control Commission — a regulatory body overseeing the insurance sector under the Ministry of Economy — for personal expenses during his tenure at the ministry.
Contacted and responded — exact wording not on record.
Beirut first investigative judge Roula Osman indicted Amin Salam, his brother Karim Salam and accountant Elie Abboud on embezzlement, forgery, blackmail, bribery and illicit enrichment charges and referred the case toward the criminal court; all three deny the charges. Source ↗