Israeli billionaire Beny Steinmetz and two others will be tried for suspected corruption charges, a Geneva prosecutor said on Monday, reported Reuters.
Steinmetz and the other two suspects have come under the scanner for allegedly paying $10 million in bribes linked to the allocation of mining licenses in Guinea to his BSR Group between 2005 and 2010. They are accused of issuing false invoices and contracts to conceal bribes allegedly paid to the wife of Guinean President Lansana Conte, who died in 2008. The bribe was given to get the mining rights in Guinea’s Simandou region allocated to Beny Steinmetz Group Resources (BSGR).
The prosecutors claim that the $10 million bribe amount was paid in part through Swiss bank accounts and that Steinmetz was able to get the mining rights just before Conte died in 2008.
Steinmetz has previously dismissed all the allegations against him as baseless and an attempt by political enemies to put him down.
Notably, Steinmetz reached an agreement with Guinean authorities in February 2019. As part of the agreement, Guinea’s government ended the long-running dispute and lifted corruption charges against the Israeli businessman in exchange for him giving up his remaining rights to the massive Simandou iron ore project.
In an interview with Reuters, Guinea’s mines minister, Abdoulaye Magassouba, revealed that the government was not involved in trying to prosecute Steinmetz, given February’s agreement.
“We have signed specific agreements with Steinmetz and we will fully respect the terms of the agreement,” Magassouba said. It is not possible for a hostile action against BSGR to come from the government.”
Geneva prosecutor Claudio Macotto, who opened his investigation in 2013, is seeking prison terms of 2 to 10 years for the three suspects if convicted.
No date has yet been set for the start of their trial.
