The 60-year-old Steinmetz, who also has French citizenship, will remain under house arrest until Jan. 2. His Israeli and French passports have been confiscated and bail set at 50 million shekels ($13 million) in cash and another 50 million shekels in property.
Steinmetz along with other Israelis living abroad, is alleged to have paid tens of millions of dollars bribed in profits in 2006-2012 to President Alpha Conde and his wife for iron mining rights.
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