Sharon Holzman, who was arrested by the Israel Securities Authority on suspicion of having fabricated a "Globes" article and other articles to persuade people to invest in Givot Olam Oil Exploration LP (TASE:GIVO.L), has been released to house arrest.
Holzman published false news articles on forums, including a link to a supposed "Globes" article about a bid for Givot Olam by Russian gas giant Gazprom. No such article was ever published, and the events described never took place.
Holzman is suspected of fraud and fraudulent receiving in aggravated circumstances.
Before publishing the forged articles, Holzman bought participation units in Givot Olam for a significant sum, with the aim of turning a profit on them throughthe false articles.
According to the finding of the investigation, after the publication of the false articles, Holzman sold his holding in Givot Olam at a profit of a few thousand shekels.
Published by Globes [online], Israel business news - www.globes-online.com - on March 3, 2015
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