Steinmetz Adviser Ducks Affidavit Bid In $1.8B Fraud Row

By Christopher Crosby (September 14, 2021, 2:54 PM BST) -- A judge ruled on Tuesday that an adviser to Israeli billionaire Beny Steinmetz does not have to explain his efforts to find $500 million allegedly owed to a Brazilian miner as part of its $1.8 billion fraud lawsuit.

High Court Judge Richard Jacobs said he will not compel Doron Levy, a special adviser of two holding companies linked to Steinmetz, to submit a court affidavit explaining what steps were taken to trace the funds. 

Vale SA and a subsidiary are suing the companies, Nysco Management Corp. and its subsidiary Balda Foundation, to find $500 million transferred in a failed mining joint venture...

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