Israeli billionaire Beny Steinmetz to be tried over ‘Guinea bribes’

August 13, 2019
| Report Focus News

Israeli billionaire Beny Steinmetz and two colleagues are to go on trial in Switzerland for allegedly paying $10m (£8.2m) in bribes in Guinea to win mining licences between 2005 and 2010

A statement from Geneva prosecutor Claudio Mascotto said the payments were promised in 2005, three years before President Lansana Conte died

They are accused of organising for the bribes to be paid to one of the wives of Mr Conte “to eliminate a competitor and have the contract for mining rights in the Simandou region allocated to Beny Steinmetz Group Resources”.

The tycoon and his company Beny Steinmetz Group Resources have previously denied any wrongdoing in the case.

In February this year, Guinea’s authorities lifted corruption charges against Mr Steinmetz and his firm after they relinquished rights to mine iron ore reserves in Simandou.

But the Geneva prosecutor continued investigations.