Geneva prosecutors indict billionaire Steinmetz in Guinea corruption case

Israeli billionaire Beny Steinmetz is seen during a business event in Tel Aviv, Israel August 8, 2010. Picture taken August 8, 2010. REUTERS/Stringer

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.