The owners of a publicly traded contracting company allegedly laundered NIS 60 million for crime boss Yitzhak Abergil. The Israel Police and Israel Tax Authority today lifted the gag order on an investigation into fraud, money laundering, and tax offences by several suspects in the real estate business in partnership with Abergil. The public company is suspected of transferring money to private contracting firms allegedly backed by Abergil, including at a project in Eilat.
The four main suspects in the case are two owners of a real estate company, who were arrested by the police on Monday. Rishon LeZion Magistrates Court Judge Menahem Mizrahi today extended their remand by six days. The police also arrested Abergil today on suspicion of involvement in the case. He was also remanded for six days. The police have arrested additional suspects.
Judge Mizrahi placed a gag order on the suspects' names and on any information that might identify them and the company. He allowed the publication of the names of two other suspects: Shimon Balulu, the owner and manager of Gan Raveh Ltd., and Nissim Pines, who was declared bankrupt and allegedly served as the manager of a contractor for the project in Eilat.
The hearing on the remand mentioned that most of the alleged criminal activity took place after 2007.
Published by Globes [online], Israel business news - www.globes-online.com - on May 20, 2014
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