Police arrest 2nd man in billionaire diamond tycoon corruption probe

Israeli police have arrested a second man suspected of involvement on suspicion of money laundering and bribing public officials in Africa, police say.

The man is an assistant to diamond and mining magnate Beny Steinmetz, who is accused of paying millions of dollars in bribes in the Republic of Guinea in exchange for advancing his business interests in the country.

Israeli businessman Beny Steinmetz. May 17, 2007.(Moshe Shai/FLASH90)
Israeli businessman Beny Steinmetz. May 17, 2007.(Moshe Shai/FLASH90)

“The suspect arrested today will appear before the court as the investigation advances,” police say.

Yesterday Steinmetz was released on bail to house arrest after paying NIS 100 million ($26 million) bail. He was also questioned Monday by the Lahav 433 anti-corruption unit, and police searched his home and offices.

The joint investigation is being carried out by agencies from the US, Switzerland, Guiana and Israel in coordination with the OECD.

Ilan Ben Zion

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