Steinmetz’s Bribery Trial Starts New Chapter of Mining Saga
- Trial focused on how he secured lucrative iron-ore deposit
- Steinmetz accused of bribing Toure to win mining concessions
Beny Steinmetz
Source: AP Photo
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Beny Steinmetz goes on trial facing bribery charges in Geneva on Monday in the latest chapter of a legal saga that’s dogged the Israeli businessman’s gamble on a multi-billion-dollar mine.
Steinmetz and two businesspeople are accused of paying the wife of Guinea’s deceased former president Lansana Conte $8.5 million to secure the concession rights to a vast mountain of iron ore in the country’s south. The trio are also accused of forgery for allegedly creating share structures to hide the bribes. The trial is taking place in Geneva as Steinmetz lived there until 2016 and had businesses there.