The money laundering affair revealed this morning by officers of the Lahav 433 division of Israel Police is likely to prove something of a bombshell in the Israeli business world. Among those arrested this morning is Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) acting chairman David Granot, who took over the chairmanship of the company's board of directors after Shaul Elovitch was barred from the company because of the Israel Securities Authority investigation into dealings between Bezeq and other companies he controls. RELATED ARTICLES Israel Police question five in huge money laundering case Elovitch ready to relinquish control of Bezeq Elovitch barred from Bezeq, Yes offices for 60 days Comptroller: PM failed to disclose relationship with Elovitch Elovitch steps down temporarily as Bezeq chairman Among the four other people arrested in the affair are a well-known tax lawyer, and an Israeli billionaire whose name may not at present be published. Bezeq sent a notification to the Tel Aviv Stock Exchange several hours after news of the money laundering investigation broke, because the police investigators had required that no names should be published, which complicated the situation and necessitated intervention by senior officials at the Israel securities Authority in order that Granot's involvement should be made known to the investing public. David Granot was in the past chairman of First International Bank of Israel (TASE: FTIN). Published by Globes [online], Israel business news - www.globes-online.com - on August 14, 2017 © Copyright of Globes Publisher Itonut (1983) Ltd. 2017
