There have been more arrests in the Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) corruption investigation. The Israel Police Lahav 433 national investigation unit this morning arrested two more suspects and detained ten others as part of the operation, which was first revealed last week. One of those arrested today is the son of a well-known public figure.
Before today, 14 suspects had been arrested, some of them senior executives and office holders including Brigadier General (res.) Amal Asad, a member of IAI's board of directors.
as part of this morning's police operations, the homes of the suspects were searched and depending on development in the investigation, suspects will be brought to the Rishon Lezion Magistrates Court during the day to have their remands extended.
The investigation, known as Case 630, encompasses many layers of suspects involved with IAI from senior executives and board members to managers and junior staff as well as external consultants and suppliers.
The main charge against IAI's staff is that they took bribes and favors from private companies that provide services to IAI (its suppliers) in exchange for promoting their interests and helping them win tenders. The suppliers themselves are suspected of giving bribes and favors and related offenses.
Published by Globes [online], Israel business news - www.globes-online.com - on March 22, 2017
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