Guinea Iron Project & BSGR Accusations

Lawsuit

Mining company BSG Resources yesterday filled a lawsuit in federal court in NY .

Beginning accusing a billionaire George Soros for this projects losses. While accusing him as a financier of this project, they said he was scuttling an iron ore deal in Guinea. They were claiming the damage was worth 10 billion dollars !
Secondly, Businessman Beny Steinmetz is BSGR’s leader in a way that he controls the company.

• Steinmetzz accused Soros and his controlled entities of manipulating the government of Guinea.

In addition to, stating he also manipulated elected officials and other misconduct. All with a goal to strip BSGR of mining contracts in Guinea in 2014.
“Israeli authorities put Steinmetz under house arrest on Dec. 19 after accusations that he paid tens of millions of dollars to senior public officials in Guinea to advance his businesses. He was released in January without being charged.”

https://www.bloomberg.com/news/articles/2017-04-14/george-soros-sued-by-fellow-billionaire-in-10-billion-mine-row

George Soros

Speaking about the “deals” of George Soros. George Soros is a Hungarian-American investor, business magnate, and philanthropist. Relying to that, Soros is considered by some to be one of the most successful investors in the world.

As of February 2017, Soros has a net worth of $25.2 billion making him one of the 30 richest people in the world.

He escaped Nazi Germany-occupied Hungary and emigrated to England in 1947. He attended the London School of Economics graduating with a bachelor’s. Following eventually a master’s in philosophy. Therefore, he began his business career by taking various jobs at merchant banks before starting his first hedge fund, Double Eagle, in 1969.

Due to this specific BSGR case, Soros was doing some “anti branding” campaign for the company. He fabricated defamatory statements about BSGR’s involvement in corruption. And he claimed that someone should check the real BSGR’s financial reports. Probabily after they check the BSGR’s way of doing business.
“Soros was motivated solely by malice, as there was no economic interest he had in Guinea,” BSGR added.
BSGR thinks Soros was motivated by vileness, but there is one question. Why would a billionaire want to loose his precious time on sabotaging someone else’s businesses? It is only possible if he has some “profits” to gain out of that.
In conclusion, Michael Vachon, a spokesman for Soros, did not respond to requests for comment, made outside of regular business hours.

Finally, the case is 1:17-cv-02726 in U.S. District Court in the Southern District of New York. (Paragraf Info inspired by Reuters)