Israeli mining tycoon Beny Steinmetz was found guilty of bribing Guinea officials close to former president Lansana Conte, to give him access to an iron-ore mine for a mere US$200m, now valued at US$5bnb, a Geneva judge ruled, sentencing Steinmetz to five years in jail and a US$56.6 million fine.The controversial Steinmetz has been the object of many accusations and investigations which he has managed to escape scot-free, until now. Steinmetz lawyers have already announced they will appeal the court's decision, the Diamond loupe reported.
Diamond tycoon Beny Steinmetz is the owner of BSGR, an embattled mining company with a presence in Guinea and Sierra Leone. BSGR is reported to be under investigation in several countries, including the U.S. for violating the Foreign Corrupt Practices Act.
Alex Shishlo for Rough&Polished
