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Psagot case heads to prosecution

19 Sep, 2010 9:52
שלח תגובה במיילEran Peer

The main suspects in the case are the investment house's former nostro portfolio managers.

The Israel Securities Authority investigation into fraud charges at Psagot Investment House Ltd. is headed to prosecution.

In recent months, the ISA has questioned Psagot executives under caution over their involvement in the securities fraud and stock running through the company's nostro portfolio.

Psagot chairman Arik Steinberg will not be charged.

The main suspects in the case are the former nostro portfolio managers, David Ederi and Shay Ben-David, and two Deutsche Bank executives.

Psagot CEO Roy Vermus and Psagot Securities CEO Shay Yaron are accused of involvement in the fraud.

Published by Globes [online], Israel business news - www.globes-online.com - on September 19, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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