The chairman and CEO are suspected of concealing huge losses from shareholders and investors.
The Israel Securities Authority has arrested TRD Instrum Ltd. (TASE:TRD) controlling shareholders chairman Zvi Davidovich and CEO Israel Ramot on suspicion of concealing from shareholders and investors the company’s huge losses amounting to tens of millions of shekels. The company lost the money on failed financial speculations of various kinds,
The Securities Authority brought the two men before the court yesterday, and they were released on restricted conditions. Their attorneys declined to comment.
Published by Globes [online], Israel business news - www.globes.co.il - on December 27, 2006
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