Several prominent people from Israel’s soccer world in Northern Israel were arrested this morning on suspicion of match fixing and money laundering, Galei Zahal (IDF) radio reports.
Among those arrested was Hapoel Nazareth Illit club chairman Avshalom Nuriel, Bnei Sakhnin goalkeeper Meir Cohen, Maccabi Akhi Nazareth former player and current coach Hisham Zuabi, Hapoel Nazareth Illit player Meir Azulay, and two other players from the village of Yafia, near Nazareth. The suspects were questioned by police at a station in central Israel.
Nuriel is the most prominent name of all the detainees. He is partner in Knafaim-Arkia Holdings (TASE: KNFM), together with the Borovich family, and is also owner of freight haulage company Moviley Dror & Assoc.. Knafaim is the controlling shareholder in El Al Israel Airlines (TASE: ELAL).
Four months ago, Nuriel’s company, Nuriel Group acquired the controlling share in logistics and international shipping company Fritz Companies Israel. Fritz Companies has annual turnover of $100 million and it employs 350 people.
Nuriel holds 74% of Fritz Companies, and global freight shipping company UPS holds the remaining stake. Fritz Companies is valued at $30 million, which means that Nuriel paid around $20 million for his stake.
Published by Globes [online], Israel business news - www.globes.co.il - on January 16, 2007
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