Judge Chaled Kabub has set a new threshold for penalties for securities fraud.
Tel Aviv District Court Judge Chaled Kabub has set a new threshold for penalties for securities fraud as part of plea bargains. A few hours after sentencing Ofer Investments CFO Golan Madar to twelve months in jail and ten months probation for securities fraud at subsidiary Melisron Ltd. (TASE: MLSR), the judge sentenced IBI nostro trader Tovi Pfeffer to ten months in jail, ten months probation, and a fine of NIS 200,000.
Pfeffer was convicted on the basis of his confession in a plea bargain of fraudulently influencing the prices of securities, fraud, and breach of trust.
Published by Globes [online], Israel business news - www.globes-online.com - on January 26, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014