[3] France left the country in grave economic crisis and Touré received extensive financial assistance from the communist bloc and later from Western nations as well.
[5] Once in power, Conté instituted a number of reforms, including a return to civilian rule, and retained firm control over Guinea’s natural resources.
However, his administration has been plagued by corruption allegations including bribes paid by international corporations in order to receive mining rights.
[12] In 2012 Condé suspended elections that had been postponed time and again since mid-2011, for an indefinite period due to alleged "technical problems", that he claimed could jeopardize the transparency and credibility of the democratic process.
On September 28, 2013 the election finally took place, however several international observers, including groups from the US, France, the European Union (EU) and the United Nations (UN) stated that the voting process was plagued with irregularities, technical problems and corruption.
[21] In 2013 Hyperdynamics was investigated by the US Securities and Exchange Commission (SEC) and the United States Department of Justice in relation to their business in Guinea.
Towards the end of 2008, Hyperdynamics disclosed that a Guinean-based employee controlled both entities, but still could not determine if and how the money was spent and whether any services were provided.
In 2009 Hyperdynamics made major internal changes; they replaced the senior management and entire board of directors, conducted an overall policy revision, and more.
[29][30] In January 2017, acting CEO of IRIS Corporation Berhad, Datuk Hamdan Mohd Hassan, was arrested by the Malaysian Anti-Corruption Commission in relation to an e-passport project the company was conducting in Guinea.
[33] In 2017, the Securities and Exchange Commission (SEC), accused Och-Ziff executives of participating in a far-reaching bribery scheme to win business in the mining sector in many African countries including Guinea.
[34] In 2018, the head of European operations for Och-Ziff Capital Management Group, Michael Cohen, was indicted and charged with fraud by the Securities and Exchange Commission (SEC).
[36] In August 2016 Samuel Mebiame, son of former Gabonese prime minister, pleaded guilty to bribing government officials in Chad, Guinea and Niger.
According to court reports, Mebiame was in close contact with Guinean government members including Minister of Mines Thiam and President Conde before his election and during his tenure.
According to the agreement, in the event of a default in payment, Hennig's Palladino would obtain a 30% share in the Guinean company at a very large discount.
In 2017, the Serious Fraud Office, the UK’s anti-fraud regulator, launched an investigation into Rio Tinto’s business in Guinea's mining industry, to examine the conduct of the company's management, employees and associates due to suspicions of widespread corruption.