The criminal investigation into the senior executives of non-bank finance company Unetcredit has moved up a gear. The Israel Securities Authority (ISA) announced today that it had completed the investigation and passed on its findings to the State Attorney. The investigation dealt with allegations that the controlling owners and senior executives in the company stole and fraudulently transferred money worth tens of millions of shekels from the public company to a private company. According to the ISA, former minister of finance Moshe Kahlon, who served as chairman of the public company, is suspected of offenses related to reporting under the Securities Law and fraud and breach of trust violations.
RELATED ARTICLES
New evidence said to incriminate Kahlon in Unetcredit affair
Unetcredit’s controlling shareholder and CEO Yitzhak Ezer, who was fired, Shai Penso and Shlomo Isaac, who are the controlling owners of the private company Unetcredit, committed reporting offenses, theft by an authorized person, fraudulent receipt under aggravated circumstances, forgery, false registration of corporate documents, fraud and breach of trust in the corporation, obstruction of justice and money laundering.
In addition, it is suspected that senior officers of the public company – deputy CEO Yoav Tsabar, CFO of the public company David Ben Naim and other officers of the public company and others involved outside the company, committed, among other things, reporting offenses according to the Securities Law and fraud and fraud offenses and corporate breach of trust according to the Penal Code.
Presumption of innocence: The suspects have not been put on trial and are entitled to the presumption of innocence
Published by Globes, Israel business news – en.globes.co.il – on December 17, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
