https://ca.finance.yahoo.com/news/israeli-diamond-tycoon-convicted-swiss-164532009.html Discuss... GENEVA — A Geneva court on Friday convicted Israeli diamond and minerals magnate Beny Steinmetz on charges of corruption of foreign agents and forging documents, in a trial over a bid to reap lavish iron ore resources in Guinea. The man considered by some to be Israeli's richest man was sentenced to five years in prison, after facing a maximum of 10 years in the case. Steinmetz, 64, denied the charges. The plot, dating to the mid-2000s, involved Steinmetz’s BSGR Group squeezing out a rival for mining rights for vast iron ore deposits in Guinea’s southeastern Simandou region. The case centred on alleged payouts of millions to a former wife of late President Lansana Conte, and exposed the shady and complex world of deal-making and cutthroat competition in the lucrative mining business.