Friday, October 30, 2020

Israeli tycoon, Beny Steinmetz ordered to trial over alleged Guinea bribes

-

GENEVA — Swiss prosecutors said an Israeli billionaire has been ordered to stand trial on corruption and bribery charges allegedly involving a widow of Guinea’s former president.

Prosecutors in Geneva allege that diamond-mining magnate Beny Steinmetz and two other defendants paid $10 million in bribes to squeeze out a competitor for mining rights in Guinea’s southeastern Simandou region between 2005 and 2010.

Related: Israeli police recommend indicting Netanyahu in bribery case

The three are accused of issuing false contracts and invoices to hide bribes allegedly paid to a wife of Guinean President Lansana Conte, who died in 2008.

The prosecutor’s office said Monday that the charges include corruption of foreign officials and falsifying documents. It said that the public prosecutor plans to seek sentences of two to 10 years in detention.

- Advertisement -

Israeli authorities arrested Steinmetz in December 2016. He was later released under restrictive conditions.

- Advertisement -
- Advertisement -

MUST READ

Ukraine’s court strips critical power from anti-corruption agency

Ukraine's Constitutional Court has stripped the country’s anti-corruption agency of some of its critical powers. The high court’s ruling published on October 28 declared it...

Former South Korean President Lee Myung-bak sent back to prison for 17 years in corruption case

Former South Korean president Lee Myung-bak was ordered back to prison on Thursday (Oct 29) as the country's Supreme Court upheld a 17-year jail...

Nigerian court declines to issue international arrest warrant for fugitive ex-Petroleum Minister in corruption case

The Abuja Division of the Federal High Court, on Wednesday, refused an application by the Economic and Financial Crimes Commission, EFCC, for an arrest...

South Korea’s former Vice Justice Minister sentenced to jail for bribery and sexual favors

Former Vice Justice Minister Kim Hak-eui, the figure at the center of one of Korea’s biggest political sex scandals, was placed under pretrial detention...

Beam Suntory Inc. fined $19.6 million in foreign bribery case

Beam Suntory Inc. (Beam), a Chicago-based company that produces and sells distilled beverages, has agreed to pay a criminal monetary penalty of $19,572,885 to...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Two U.S. Navy service members get prison for defrauding military insurance program

Two U.S. Navy service members were sentenced in San Diego federal court Friday for their roles in an insurance fraud scheme that involved making false medical claims to...

Brother of ex-Pakistan PM Nawaz Sharif jailed for money laundering

Pakistan Muslim League-Nawaz (PML-N) chief and Opposition Leader in the National Assembly Shehbaz Sharif was sent to jail on Tuesday in a money laundering...

Former Jacksonville City Council members set for sentencing in fraud case

Former Jacksonville City Council members Katrina Brown and Reggie Brown are scheduled to be in federal court Tuesday to begin a hearing on their...

Dutch prosecutors seize $33m in bitcoin from couple convicted of money laundering

Prosecutors from the Netherlands have seized 2,532 bitcoins worth $33 million after a couple was convicted of money laundering by the Rotterdam District Court....
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks