Diamond tycoon guilty of corruption

GENEVA — A court here 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 was also ordered to pay a $50 million fine. His defense lawyer, Marc Bonnant, said he would appeal the court ruling.