Make Kitco Your Homepage

Geneva prosecutors indict billionaire Steinmetz in Guinea corruption case

Kitco News

GENEVA, Aug 12 (Reuters) - Israeli billionaire Beny Steinmetz and two others will be tried for suspected corruption for allegedly paying $10 million in bribes linked to allocation of mining licenses in Guinea to his BSR Group between 2005 and 2010, Geneva prosecutors said on Monday.

"The attorney general's office accuses the three of having promised in 2005 and then paid or had bribes paid to one of the wives of former Guinean President Lansana Conte so as to eliminate a competitor and have the contract for mining rights in the Simandou region allocated to Beny Steinmetz Group Resources," Geneva prosecutor Claudio Mascotto said in a statement, saying that they also faced forgery charges.


(Reporting by Stephanie Nebehay; Editing by Michael Shields)

Reuters Messaging: stephanie.nebehay.thomsonreuters.com@reuters.net; twitter @StephNebehay))

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News