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Swiss court hands diamond magnate five-year prison sentence Steinmetz (foreground) entering the Geneva court premises with his lawyer. Keystone / Martial Trezzini Israeli billionaire Beny Steinmetz has been handed a five-year sentence and a CHF50 million (almost $56.5 million) fine over suspected corrupt business practices in Guinea.   This content was published on January 22, 2021 - 17:52 January 22, 2021 - 17:52 Reuters/Keystone-SDA/SWI swissinfo.ch/ilj Steinmetz was alleged to have paid bribes to secure mining rights in the African country at a fraction of their fair value. He had denied ...

Israeli businessman Beny Steinmetz has been found guilty of corruption in Switzerland in a dispute over the world's richest untapped deposits of iron ore.   Steinmetz, who made his name in the diamond business, was indicted in August 2019 by a Geneva prosecutor over deposits at the Simandou mine in Guinea. On Friday, judges found him guilty of corrupting foreign agents and forging documents, sentencing him to five years in jail and a fine of $56million. Steinmetz and two aides had been accused of paying, or having paid, $10 million in bribes to obtain exploration permits for Simandou and o...

Beny Steinmetz found guilty of bribery in Swiss trial  Mr Steinmetz has always denied allegations of wrongdoing and said he will appeal the ruling all the way to the Supreme Court 22 January 2021 • 7:52pm Diamond tycoon Beny Steinmetz has been convicted of paying bribes to gain lucrative mining rights and sentenced to five years in prison. The 64-year-old and two co-defendants were found guilty in a Swiss court of variously paying or arranging ­payment of $8.5m (£6.2m) in bribes to Mamadie Toure, said to be a wife of the late Guinean president Lansana Conte, to secure rights to the iron...

Text size The evidence against Beny Steinmetz reveals a textbook case of corruption, a Geneva prosecutor said Thursday at the diamond magnate's trial over alleged bribery linked to mining deals in Guinea. Prosecutor Yves Bertossa sought a five-year prison sentence for the French-Israeli businessman, if he is convicted on charges of bribing public officials. The trial at the Geneva Criminal Court is the culmination of a long international investigation into mining permits granted by Guinea to Beny Steinmetz Group Resources (BSGR). "It is a textbook case: we have the payments, the contrac...

Beny Steinmetz Pressed on Guinea Deals on Second Day of Bribery Trial Bloomberg 1/12/2021 Hugo Miller and Thomas Biesheuvel (Bloomberg) -- Israeli tycoon Beny Steinmetz defended his investment in an African iron-ore mine, telling a Geneva court that the $5 billion valuation of a site that he secured for less than $200 million was part of the industry’s reward for risk-taking. Steinmetz is testifying during the second day of his trial on charges of bribery in Geneva. He dismissed questions from presiding judge Alexandra Banna about transactions that allowed him to take cont...