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Geneva Prosecutors Indict Mr Steinmetz of BSGR in Guinea Corruption Case

Mining News - Published on Wed, 14 Aug 2019

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Reuters reported that a Swiss prosecutor said on Monday he was seeking prison terms for Israeli billionaire Mr Beny Steinmetz and two associates over the alleged payment of bribes linked to the allocation of mining licences in Guinea between 2005 and 2010. Geneva prosecutor Claudio Mascotto said “The three were accused of having promised in 2005 and then paid or had bribes paid to one of the wives of former Guinean President Mr Lansana Conte so as to have mining rights in Guinea’s Simandou region allocated to Beny Steinmetz Group Resources.”.

Mascotto, who opened his investigation in 2013, said he was indicting the three suspects in Geneva, where some of the alleged USD 10 million in bribes had transited, for alleged corruption of Guinean public officials and forgery. He is seeking prison terms of 2 to 10 years.

The trial in a criminal court is the city’s first major international corruption case under Swiss federal law

The two other defendants were not named in the Geneva prosecutor’s statement and the judge has yet to set a trial date.

BSGR walked away from Guinea’s massive Simandou iron ore project as part of a settlement announced in February which ended a long-running dispute with the West African nation

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Posted By : Sanju Moirangthem on Wed, 14 Aug 2019
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