Connect with us

Hi, what are you looking for?

Jewish Business News


Diamond Dealer Daniel Steinmetz Named in HSBC Tax Dodge Investigation

The Diamond Business is getting increasing scrutiny in HSBC Probe


Daniel Steinmetz is the latest name to come up among those who might have enjoyed preferential treatment, including possible illegal tax dodges at Switzerland’s HSBC bank, according to Gazettebw.

Steinmetz, owner of Steinmetz diamonds Botswana, may have stashed away $264 million in a protected Swiss bank account to evade taxes. Steinmetz was alleged to have shared the account with Dan Gertler, with whom he had partnerships in the Congo. Steinmetz was said to have controlled half a billion dollars at the bank between 2006 and 2007.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Daniel Steinmetz is the brother and partner of diamond billionaire Benny Steinmetz, and owns with his son Raz, a stake in the Steinmetz Group, a major player in the global diamond market and one of the largest customers of De Beers.

Steinmetz isn’t the only one in the diamond business that is getting in trouble in the HSBC investigation, but Lev Leviev and Maurice Tempelsman are also coming under scrutiny. Since Belgian authorities charged HSBC with fraud and money laundering over its dealings with certain diamond dealers, Russian-Israeli billionaire Lev Leviev, Maurice Tempelsman and his company Lazare Kaplan International might be implicated.

However, these allegations have been denied. Christian Merkling, the attorney for Lazare Kaplan International (LKI) and for American Maurice Tempelsman told NewEra, “Even the most perfunctory investigation would have revealed neither LKI or any of its subsidiaries (and Maurice Tempelsman, for that matter) are on the list of holders for such accounts because no such accounts were held by them.”



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.