A billionaire French-Israeli diamond magnate, Beny Steinmetz, has appeared in court in Switzerland to face trial over alleged corruption linked to a major mining deal in Guinea.
He has always denied his company, BSGR, paid multi-million dollar bribes to obtain iron ore mining exploration permits in southern Guinea in 2008.
He travelled to Geneva from Israel for the two-week trial. If convicted he could face up to 10 years in prison. Steinmetz, 64, was previously sentenced in absentia to five years in prison by a court in Romania for money laundering. Continue Reading →