Senior executives in infrastructure company Shikun & Binui Holdings Ltd. (TASE: SKBN), controlled by Shari Arison's Arison Investments, are suspected of bribing a public servant in Africa. In the framework of its campaign against bribery of public servants, the Israel Police Lahav 433 fraud squad today began an overt investigation following a covert investigation lasting several months.
Four suspects in Shikun & Binui, controlled by the Arison group, were detained for questioning under caution today on suspicion of bribing a public servant, falsifying corporate documents, fraud, and money laundering.
The Lahav 433 fraud squad is cooperating with international law enforcement agencies, under the guidance of the State Attorney's Office Taxation and Economics Division.
A police spokesperson said, "Shikun & Binui allegedly gave bribes to representatives of a foreign government, while also committing other law violations. The alleged bribes were allegedly aimed at obtaining construction work in Africa amounting to hundreds of millions of dollars.
"Simultaneously with the investigation, widespread economic enforcement measures are also being taken, in which property belonging to the company was confiscated as part of the fight against money laundering.
"The police will continue investigating and exposing improper actions involving conflicts of interest wherever public corruption harmful to governance, financial institutions and civil norms is suspected."
Published by Globes [online], Israel Business News - www.globes-online.com - on February 20, 2018
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