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Brazilian mining giant alleges bribes were used to secure mining rights to Guinea’s Simandou mine

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 landmark case that will resonate far beyond Geneva’s Palais de Justice. This content was publishe...

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 landmark case that will resonate far beyond Geneva’s Palais de Justice. This content was publishe...

ADVERTISEMENT ADVERTISEMENT BSG Mining Billionaire Can't Trim $1.85B Fraud Lawsuit Law360, London (December 18, 2020, 5:43 PM GMT) -- Two companies tied to an Israeli billionaire failed to beat back a former business partners' $1.85 billion fraud lawsuit after a London judge refused Friday to pare down allegations related to a failed joint venture agreement in Africa. High Court Judge Andrew Baker rejected an application for summary judgment filed by Nysco Management Corp. and its subsidiary, Balda Foundation, seeking to trim claims filed by Brazilian mining company Vale SA over a mining pro...