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5 years in prison: Billionaire Benny Steinmetz was convicted of corruption in Switzerland

A Swiss court has convicted the businessman of paying a $ 10 million bribe to the former Guinean president and his wife in exchange for a concession to mine the country.

Steinmetz, a 63-year-old native of Netanya, was recently sentenced to five years in prison in Romania for his part in a real estate scam as part of a fictitious land deal

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• corruption

• bribe

• Switzerland

• Benny Steinmetz

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Friday, 22 January 2021, 18:37

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In the video: The trial of billionaire Benny Steinmetz in Geneva (Photo: Reuters, Edited by Amit Simcha)

A Swiss court today (Friday) convicted Israeli billionaire Benny Steinmetz of corruption in granting mining licenses in Guinea, and sentenced him to five years in prison.

The judges ruled that the businessman paid $ 10 million in bribes to former Guinean president Asana Conte and his wife to obtain the concession to cut down a compound known as the Simando.

The affair was investigated in the country where the headquarters of the BSGR affiliated with Steinmetz were located.

Steinmetz, a 63-year-old native of Netanya, began his career in the family diamond business and over the years also moved into real estate and mineral mining around the world. BSGR.This is the deal that is at the heart of the affair.According

to previous publications, Steinmetz paid about $ 165 million for the rights, and shortly afterwards sold half of them to another company - for $ 2.5 billion.

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Billionaire Benny Steinmetz has been sentenced to five years in prison in Romania

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Steinmetz in Geneva, today (Photo: Reuters)

Last month, Steinmetz was sentenced to five years in prison in Romania for his part in a real estate scam. He was arrested in 2015 along with Tal Zilberstein, a well-known strategic advisor. In 2019, a court in Romania acquitted Steinmetz of corruption charges, but the Romanian Supreme Court reversed the decision, and Zilberstein was also sentenced to five years in prison.

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