The Tel Aviv District Court today sentenced former Police commission Rafi Peled to six months community service after being convicted in the Peled-Givony affair. He was also fined NIS 100,000 a received one month's probation.
Peled's partners in Peled-Givony Ltd., a cluster of public companies, Tal Jaegerman, Arie Givony, and David Wahabi, were each sentence to 1-4 years in prison and fined.
In December 2012, Peled, who also served as director general of the Prime Minister's Office under Ariel Sharon, and as CEO of Israel Electric Corporation (IEC), was convicted of two counts of fraud and breach of corporate.
Judge Chaled Kabub noted, however, that Peled did not personally benefit from the affair. "Peled is no ordinary defendant. He failed, but he did not abuse his position or power. He is not a thief, or a forger, and he took nothing fraudulently. His failure was in identifying the warning signs about illegal acts," wrote the judge in his sentencing. "The penny dropped too late, and he allowed Jaegerman to run the company even though he was not authorized to do so."
Judge Kabub noted that Peled was not convicted of serious offenses in the case.
Published by Globes [online], Israel business news - www.globes-online.com - on April 4, 2013
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