A court in Cyprus today ordered the release of Israel businessman Beny Steinmetz on bail after he was arrested last week following a European Arrest Warrant. Steinmetz will appear in court later this month.
A spokesperson for Steinmetz, "Welcomed the decision and expressed confidence that the court in Cyprus will understand that the European Arrest Warrant should not have been issued, due to the significant flaws presented in the legal procedures carried out in Romania. This, similar to the conclusion reached by Greece, Italy and Interpol in the past."
Steinmetz was arrested last Thursday following an EU warrant for his arrest issued by the Romanian authorities. The warrant was issued after Steinmetz after Steinmetz was sentenced to five years imprisonment in Romania in December 2020 after being found guilty of real estate fraud in one of the country's biggest ever corruption affairs.
Steinmetz has also been sentenced to 18 months in prison in Switzerland after being convicted of bribing the former President of Guinea. In April, a Swiss court dismissed most claims in an appeal by Steinmetz but reduced the sentence from three years.
Following Stenmetz's conviction in 2020, the Romanian authorities issued a red notice via Interpol, asking for him to be detained anywhere on EU territory. Later, the arrest warrant was canceled due to the manner of the proceedings in Romania, which were politically motivated according to an Interpol report. In addition, a European arrest warrant was also issued. In December 2021, Steinmetz was arrested in Greece based on this warrant, but the authorities in Greece rejected the request by the Romanian authorities in Romania to extradite him due to the violation of due process in Romania.
Published by Globes, Israel business news - en.globes.co.il - on September 6, 2023.
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