Switzerland: Steinmetz Swiss trial: Jail for tycoon in Guinea mine corruption trial

Israeli businessman Beny Steinmetz has been given a five-year jail sentence by a court in Geneva, in a trial described as the mining sector’s biggest-ever corruption case.

The trial threw a spotlight on an often murky struggle for control of Africa’s natural resources.

Steinmetz, a former diamond magnate who also holds French citizenship, was convicted of bribing public officials in Guinea, in order to gain control of the country’s iron ore deposits.

The court also ordered him to pay compensation of 50m Swiss francs (£41m; $56m) to the state of Geneva.

“It is clear from what has been presented… that the rights were obtained through corruption and that Steinmetz co-operated with others,” to obtain them, Chief Justice Alexandra Banna told the court, according to AFP news agency.

The original full article can be found at bbc.co.uk

(Photo: REUTERS/Denis Balibouse)

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