Business Maverick

International Finance

Mining Billionaire Beny Steinmetz Arrested at Athens Airport

Billionaire Beny Steinmetz arrives at Geneva criminal court in Geneva, Switzerland, on Monday, Jan. 11, 2020. Steinmetz goes on trial facing bribery charges in the latest chapter of a legal saga that's dogged the Israeli businessman's gamble on a multi-billion-dollar mine. Photographer: Stefan Wermuth/Bloomberg

Beny Steinmetz, the Israeli billionaire convicted of bribery weeks apart in Romania and Switzerland, is stuck in Greece after being arrested by local police over two weeks ago when the private jet he was on landed at Athens airport. 

Steinmetz was detained on Nov. 24 on an international arrest warrant but released 24 hours later on condition he didn’t leave Greece, according to Romanian authorities. His arrest, coordinated by Greece and Romania following his conviction for a bribery case in Bucharest last December, was reported earlier on Thursday by AFP.“I can confirm that Mr. Steinmetz was delayed at Athens airport due to a serious breakdown in communicating the removal of Interpol’s red notice,” Eitan Maoz, a lawyer for the businssman, said. “We are handling this matter and hope that Mr. Steinmetz will return his home and his businesses quickly.”

Interpol red notices are requests for law enforcement globally to arrest someone. Interpol lists some but not all of the red notices it issues on its website and Steinmetz does not figure among those currently listed on the site.

Steinmetz, 65, made his money in the diamond trade, before securing the rights to the Simandou mine in Geneva, the world’s richest untapped iron-ore deposit, in Guinea. That investment should have been his crowning glory but instead sparked years of legal headaches that culminated in his conviction in a Geneva court in January for bribing Guinean officials to secure the rights to Simandou.

A French and Israeli citizen, he has also been the subject of investigations in the U.S. and Israel, where he was briefly detained in 2016 and placed under house arrest.

It’s unclear how long Steinmetz will be stuck in Greece — it could take as long as 90 days for a court hearing to take place. The extradition treaty between the two countries is governed by European Union law.

Read more: Steinmetz Sentenced to 5 Years in Jail in Swiss Bribery Case

Romania’s Ministry of Justice issued a European Arrest Warrant tied to his conviction in Romania which they sent to their Greek counterparts. The procedure for that warrant is “currently in progress,” the Romanian Justice Ministry said, declining to give further details.

Steinmetz’s lawyer at the time of his conviction said he’d appeal the verdict because his client never took part in a bribery pact and the court didn’t properly consider the “fragility” of the testimony against him. Daniel Kinzer, Steinmetz’s new Swiss lawyer, is in court Thursday and wasn’t immediately available to comment. Steinmetz is also appealing the Romanian conviction.

Within hours of his Swiss sentencing, Steinmetz was allowed to return to Israel due to a quirk of Swiss law. To encourage him to testify, his lawyers received court assurances before the trial that he would not be detained.

Steinmetz’s lawyers are also appealing the Romanian conviction, citing irregularities in the prosecution of the case, according to Israeli press reports.

Gallery

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