On Monday, the trial of the Israeli billionaire Beny Steinmetz, who is a figurative diamond magnate, started in Switzerland. He was accused of corruption connected to a mining deal in Guinea.
It was reclaimed that his company BSGR, paid over million-dollar bribes to have the right of searching for iron and mining in southern Guinea in 2008.
Steinmetz was previously accused of money laundering in Romania and he faced a five-year sentence.
"Swiss prosecutors say Steinmetz paid about $10m (£7.4m) in bribes, in part through Swiss bank accounts, to gain the rights to Guinea's iron ore deposits in the Simandou mountains, according to the BBC."
On the other hand, the billionaire's lawyer Marc Bonnant asserted that they will approve of his innocence.
In case if these accusations are proved, Steinmetz may face 10 years in prison.
Follow the latest news on Google News
