Page 61 - Simandou News Today

Israel billionaires exploit Congo diamond, Guinea mining sectors Quartz 1/26/2021 © Provided by Quartz Former US president Donald Trump’s last minute controversial removal of sanctions against an Israeli businessman named in corruption scandals in DR Congo’s mining industry and the jailing of another international commodity broker for bribery in a Guinea iron ore scandal this month shows just how vulnerable Africa’s lucrative resources sector has long been to international operators. ...

How a mining corruption trial could be a turning point for dodgy offshore companies A Geneva court handed Franco-Israeli billionaire Beny Steinmetz a five-year sentence and a CHF50 million (almost $56.5 million) fine over suspected corrupt business practices in Guinea. Stefan Wermuth/AFP More than seven years after his former Geneva home was searched, Franco-Israeli businessman Beny Steinmetz was sentenced last Friday to a five-year prison term on charges of corruption and document forgery in a...

January 26, 2021 Former US president Donald Trump’s last minute controversial removal of sanctions against an Israeli businessman named in corruption scandals in DR Congo’s mining industry and the jailing of another international commodity broker for bribery in a Guinea iron ore scandal this month shows just how vulnerable Africa’s lucrative resources sector has long been to international operators. For too long Africa’s mineral wealth has failed to uplift the majority of ordinary citiz...

Trump eased sanctions on mining tycoon Dan Gertler before leaving office Gertler, originally a diamond trader, amassed his fortune mostly by buying mining assets from the DRC at greatly discounted prices, and selling them at great profit. ( The order, issued on January 15, followed an appeal by lobbyists working for Gertler, including lawyer Alan Dershowitz, who helped represent Trump during his first impeachment, Sign Up Washington sanctioned Gertler in 2017 under the Global Magnitsky Human R...

January 25, 2021 On Jan. 22, a court in Geneva found diamond and mining magnate Beny Steinmetz (pictured) guilty of corruption for allegedly bribing the wife of the former head in Guinea in exchange for mining rights. BSGR, which stands for Beny Steinmetz Group Resources, had been accused of paying $8.5 million to Mamadie Touré, the fourth wife of Guinea’s then-president Lansana Conte, in exchange for the rights to the Simandou mine, one of the largest iron ore deposits in the world. The co...

Swiss court convicts Beny Steinmetz in Guinea bribery case The Israeli businessman has been sentenced to five years in prison but protests his innocence and has appealed against the ruling. Israeli businessman Beny Steinmetz has been found guilty of fraud by a Swiss court in Geneva and sentenced to five years in prison and a 50 million Swiss franc fine. Steinmetz, 64, whose wealth is estimated at $1 billion, was convicted of offenses including, "giving a bribe to a senior foreign public figure,...

Beny Steinmetz, a 64-year-old Israeli man, paid the longtime ruler of Guinea through gifts to his fourth wife, a court found.

French-Israeli diamond magnate Beny Steinmetz was sentenced by a Geneva court on Friday to five years behind bars for corruption linked to mining rights in Guinea. After a seven-year international investigation, the 64-year-old businessman was accused of setting up a complex financial web to pay bribes so that Beny Steinmetz Group Resources (BSGR) could obtain permits in an area estimated to contain the worlds biggest untapped deposits of iron ore. "It is clear from what has been presented... t...

Mr. Steinmetz, a French-Israeli businessman, was convicted on charges of corrupting foreign public officials in a bid to reap iron ore resources in Guinea. He was sentenced to five years in prison.

Beny Steinmetz has been found guilty of corruption and sentenced to five years in prison.A Swiss criminal court convicted the Israeli mining tycoon of bribing officials in Guinea in a 2008 deal to