Lebanese authorities on Monday froze the financial institution accounts of the nation’s embattled former central financial institution governor, Riad Salameh, days after america, Britain and Canada imposed sanctions on him for “contributing to the breakdown of the rule of regulation in Lebanon” by way of many years of corruption.

The motion, introduced by Lebanon’s interim central financial institution governor, Wassim Mansouri, adopted an inner investigation. It got here simply two weeks after Mr. Salameh left his put up on the central financial institution, ending an 30-year tenure throughout which he nearly single-handedly constructed up Lebanon’s economic system from the ashes of struggle, and presided over its current downfall.

The belongings of 4 folks near Mr. Salameh have been additionally frozen by the central financial institution. They embrace Mr. Salameh’s brother, Raja Salameh; his son, Nady Salameh; Anna Kosakova, whom U.S. officers described as Mr. Salameh’s former associate; and his former assistant on the central financial institution, Marianne Hoayek.

The U.S.-led coalition accused them of serving to Mr. Salameh funnel tons of of thousands and thousands of {dollars} by way of layered shell firms to put money into European actual property in order that he might amass an outsize fortune outdoors of the nation.

Mr. Salameh, 73, resigned his put up on July 31 as a cloud of investigation grew round him, following many years when he was just about untouchable in Lebanon thanks to shut ties to the nation’s political elite. France, Germany, Luxembourg and Switzerland began investigations into Mr. Salameh a number of years in the past over suspected monetary crimes, together with the suspected laundering of $330 million in funds by Mr. Salameh and his associates immediately from Lebanon’s central financial institution.

Paris and Berlin issued Interpol arrest notices for Mr. Salameh in Could, however Lebanon doesn’t extradite its residents to international international locations.

Mr. Salameh couldn’t be reached for remark. He has repeatedly denied any wrongdoing and insisted that he amassed a private fortune of $23 million throughout a 20-year profession as a banker at Merrill Lynch.

The allegations of fraud had precipitated a sensation in Lebanon, a rustic that has been affected by a historic collapse. In recent times, lots of its banks have grew to become largely bancrupt, unemployment has soared and the lira foreign money has plummeted in worth, leaving many Lebanese responsible Mr. Salameh for his or her sinking way of life.

A refined, canny political operator and a Lebanese-French twin citizen, Mr. Salameh has been enmeshed in Lebanon’s politics since a earlier prime minister, Rafik Hariri, named him central financial institution governor in 1993. Mr. Salameh had been Mr. Hariri’s personal banker at Merrill Lynch.

Mr. Hariri was attempting to rebuild Lebanon after a disastrous 15-year civil struggle, and Mr. Salameh got down to stabilize the foreign money and reel in international funding. The nation supplied excessive rates of interest that attracted billions in deposits in Lebanese banks.

Mr. Salameh’s supporters hailed him as a talented savior for conserving the economic system steady. However in the end, his financial technique required ever extra borrowing to pay present collectors, and it collapsed lately in what some critics have known as an enormous Ponzi scheme.

In 2019, Lebanon entered an financial free-fall that, the World Financial institution stated in 2021, might rank within the prime three worldwide over the past 150 years, citing a “brutal” financial contraction of a magnitude “normally related to conflicts or wars.”

Regardless of the calamity, Mr. Salameh till not too long ago had not confronted severe calls by Lebanese politicians to step down.

However the corruption investigations in Europe started to pose new threats to his standing. Two months after the Interpol arrest warrants have been issued, america, with Britain and Canada, introduced the sanctions on Mr. Salameh, saying he “contributed to Lebanon’s endemic corruption and perpetuated the notion that elites in Lebanon needn’t abide by the identical guidelines that apply to all Lebanese folks.”

The previous central financial institution governor “used his place to put his private monetary pursuits and ambitions above these of the folks he served, even because the financial disaster in Lebanon worsened,” the Treasury below secretary for terrorism and monetary intelligence, Brian E. Nelson, stated in an announcement final week.

Hwaida Saad contributed reporting.