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The Israeli billionaire is appealing last year's conviction for bribery and fraud in the granting of rights to BSGR for an iron ore mine in Guinea.

French-Israeli diamond magnate Beny Steinmetz was back in court in Switzerland on Monday seeking to clear his name by appealing against his conviction in one

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 concession has previously been held by Rio Tinto. The court fined Steinmetz 50 million Swiss francs an...

Views: Visits 52 Swiss prosecutors allege that the Israeli billionaire and business associates bribed a wife of the former Guinean president to obtain lucrative mining rights. Lawyers, bankers and professional advisers in Europe and the United States enabled corruption in one of the world’s poorest countries, Swiss officials allege in a highly-anticipated criminal case that opens today. Prosecutors in Geneva allege that Israeli billionaire Beny Steinmetz forged documents and masterminded a “corruption pact” over five years to pay millions of dollars in bribes to obtain lucrativ...

January 11, 2021 Update, Jan. 22: Beny Steinmetz and two colleagues were convicted in Geneva on charges related to a bribery scheme. Steinmetz, sentenced to five years in jail and ordered to pay 50m Swiss francs ($56.5 million), said he will appeal the guilty verdict.  Lawyers, bankers and professional advisers in Europe and the United States enabled corruption in one of the world’s poorest countries, Swiss officials allege in a highly-anticipated criminal case that opens today. Prosecutors in Geneva allege that Israeli billionaire Beny Steinmetz forged documents and m...