Monday, August 8, 2022

Beny Steinmetz convicted of corruption

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Israeli businessman Beny Steinmetz has been found guilty of corruption and sentenced to five years in prison by a Swiss criminal court in a landmark case that will reverberate in the mining industry.

The ruling follows a two-week trial in which Mr. Steinmetz, 64, and two associates were accused of paying and arranging $ 10 million in bribes to secure exploration rights of Simandou, a giant iron ore deposit in Guinea, and forging documents to cover it. to the top. They denied the charges.

Mr. Steinmetz was also sentenced to a fine of 50 million francs. A spokesperson for the businessman said he would appeal the verdict.


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