Ghana threatens to suspend DStv licence over subscription prices
Israeli billionaire ‘detained over Guinea iron ore deal’
3:42 CAT | 19 Dec 2016
Rio Tinto / The world's most valuable iron ore deposits are thought to be beneath the Simandou mountains in Guinea
Billionaire businessman Beny Steinmetz has been detained by Israeli police for questioning in relation to allegations of bribery and corruption in Africa, Reuters news agency reports.
The company Mr Steinmetz founded, BSG Resources, struck a famous and controversial deal for iron ore mining rights in Guinea in 2008, buying them from the ailing ex-President Lansana Conte for $160m shortly before his death.
Two years later, 51% of the rights were sold on to a Brazilian mining company for $2.5bn.
Israeli police did not name the man who had been arrested, describing him only as a prominent businessman, Reuters adds.
Both Mr Steinmetz and BSGR strenuously deny allegations of bribery.
A police statement said that he, along with other Israelis living abroad, was suspected of paying tens of millions of dollars to senior public officials in Guinea to advance their businesses.
In an emailed statement to Bloomberg news agency, the company said: “It is BSGR’s strong belief that these allegations of bribery by the government of Guinea are not only baseless, but are a systematic attempt by the government of Guinea to cover up the endemic corruption which has blighted this country for a number of years.”
BSGR said the investigations were initiated by the government of Guinea with international police organisations in the US, the UK and Switzerland.
Source: BBC
Leave a Reply
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.