Shmuel Sagi was released on bail by the Haifa Magistrates Court.
Commtouch Ltd. (Nasdaq: CTCH) founding shareholder Shmuel Sagi is suspected of failure to report $3.6 million in profits from the sale of the company's shares.
The 62 year-old Pardes Hanna resident today had his remand extended by the Haifa Magistrates Court. Sagi was released on bail after posting a banker's check of NIS 150,000 and NIS 300,000 in personal guarantees.
Published by Globes [online], Israel business news - www.globes-online.com - on August 18, 2009
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