Israeli billionaire Beny Steinmetz and two associates are facing criminal charges in Switzerland for allegedly paying bribes to win mining licences in Guinea between 2005 and 2010.
Four companies from the mining sector have disclosed open FCPA-related investigations.
One company first disclosed an investigation this week. The other companies first disclosed investigations in 2016, 2015, and 2013.
Two of the companies are based in the UK, one in Canada, and the other in Switzerland.… Continue Reading
The U.S. Securities and Exchange Commission Tuesday charged Rio Tinto Plc and two former executives with fraud for allegedly inflating the value of coal assets in Mozambique.
A New York banker who served as mining minister of the West African country of Guinea was jailed seven years Friday for laundering bribes from Chinese companies.
Mahmoud Thiam, 50, an American citizen, took $8.5… Continue Reading
Beny Steinmetz was detained Monday in Israel for a second time for questioning in connection with bribery of high ranking foreign officials in Guinea.
The police action was part of a joint investigation by the Israeli Police and authorities from Switzerland, the United States and Romania.… Continue Reading
The UK Serious Fraud Office released a statement Monday confirming that it has opened a corruption investigation into mining giant Rio Tinto.
The SFO said the investigation targets “suspected corruption in the conduct of business in the Republic of Guinea by the Rio Tinto group, its employees and others associated with it,” according to an alert from FCPA Tracker.… Continue Reading
A Houston-based independent oil company that resolved FCPA offenses in 2015 said last week that another FCPA investigation, if it were to happen, could sink the company.
A U.S. citizen who served as mining minister of the West African country of Guinea was convicted by a federal jury Wednesday of laundering $8.5 million in bribes he took from Chinese companies in exchange for valuable mining rights.… Continue Reading
Authorities in Israel detained billionaire Beny Steinmetz for questioning about money laundering in connection with bribes allegedly paid to officials in Guinea for mining rights.
The former Minister of Mines and Geology of the West African country of Guinea was arrested and charged Tuesday with laundering $8.5 million in bribes he allegedly took from a Chinese conglomerate in exchange for mining rights.… Continue Reading
BSG Resources Limited said it sent a letter to Rio Tinto plc Monday alleging that Rio Tinto contributed to the loss of BSGR’s mining rights in Simandou, Guinea by paying bribes and making false allegations.… Continue Reading