An Israeli businessman's corruption conviction in Switzerland is being appealed
Published on May 17, 2023
In a case connected to his company's attempt to exploit vast iron ore deposits in the west African nation of Guinea, Israeli diamond billionaire Beny Steinmetz returns to a Geneva tribunal on Monday to appeal his conviction on allegations of influencing foreign public officials and fabricating papers.
The man regarded by some to be Israel’s wealthiest man was condemned to five years in jail and told to pay a 50-million-Swiss franc ($51.5 million) punishment in the lower court's verdict in January 2021. Two other defendants got lighter penalties.
This case exposes the murky and intricate world of deal-making and intense rivalry in the lucrative mining sector, focusing on alleged transfers of millions of dollars to a former wife of the late Guinean President Lansana Conte.
Predictions suggest the appeal will continue.
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