A Belgian-Israeli billionaire has died while undergoing penis enlargement surgery, with his company describing him as a “visionary businessman.”

Ehud Arye Laniado, a 65-year old diamond trader, passed away from a heart attack after an unnamed substance was injected into his penis during the procedure, which took place at a private French clinic.

Mr Laniado, who had undergone a number of plastic surgery procedures in the past, was the owner of Omega Diamonds, an Antwerp-based business, and Mercury Diamond, a diamond pricing consultancy. In 2015, he sold the world’s most expensive diamond, the Blue Moon of Josephine, to a Hong Kong billionaire and convicted felon, Joseph Lau Luen Hung.

Mr Laniado had been due to appear on trial in a Belgian Court on March 14, facing tax evasion charges. Two other courts had previously dismissed the tax evasion claim worth billions of euros, which has been brought by the Belgian customs office.

In a statement on the Mercury Diamond website, the business confirmed: “It is with great sadness that we confirm the news that our founder, Ehud Arye Laniado, passed ‎away on Saturday, March 2, 2019. He was 65 years old

“After living an exceptional life Ehud will be brought back home to Israel as his final resting place. ‎He will be dearly missed by us all.”