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Eldorado

Israeli magnate set for corruption trial

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Eldorado

After a drawn-out international investigation, French-Israeli diamond magnate Beny Steinmetz will go on trial in Geneva next week over allegations of corruption linked to mining deals in Guinea.

The trial, due to kick off Monday and last for two weeks, will delve into allegations of multi-million-dollar bribes paid to top Guinean officials to win lucrative mining rights.

The 64-year-old billionaire businessman has travelled from Israel to Switzerland and will be present at the trial, according to his lawyer Marc Bonnant.

"We will plead his innocence," Bonnant told AFP.

Full report at Yahoo Finance: Link

Beny Steinmetz: Wikipedia

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Eldorado

A Swiss criminal court found Israeli businessman Beny Steinmetz guilty of corruption on Friday and sentenced him to five years in jail, delivering a landmark verdict in one of the mining world's most high-profile legal disputes.

Reuters report via MSN

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