New details have emerged regarding the Israel Electric Corporation (IEC) (TASE: ELEC.B22) bribery affair: The Israel Securities Authority has located documents that raise suspicions that Adv. Shlomo Nass allegedly received a bribe of $500 million from Siemens, according to reports in "Yediot Ahronot" today.
Nass is one of Israel's most senior lawyers and is considered the country's leading Attorney on matters of liquidation and receivership. In the mid-1990s he served as chairman of the Israel Electric Corp. The Israel Securities Authority is investigating suspicions regarding whether Nass allegedly helped Siemens promote its interests with the Israel Electric Corp. Nass's sister served as a director of the IEC and a member of the tenders committee.
ISA investigators suspect from the documents they have seen that two transfers made by straw-man Shlomo Daniel, the brother-in-law of Siemens Israel energy and industry division manager Oren Aharonson, to a man named Stephen Nass, who it is claimed is actually Shlomo Nass. The two transfers amounted to $500 million and were deposited in a Swiss bank account.
When questioned, Aharonson reportedly said, "I see that money was transferred to Nass but I cannot think of anything he did to help me."
Adv. Nass who is being questioned under caution by the ISA denies that he received a bribe.
Published by Globes [online], Israel business news - www.globes-online.com - on August 3, 2015
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