Israel’s most famous embattled tycoon, IDB chairman Nochi Dankner, discovered his life is more complicated than ever on Tuesday, as it was announced that he may be charged with fraud and other illegalities, Globes reported.
Israel Securities Authority chairman Shmuel Hauser sent the IDB Holding Corp. investigation file to the Tel Aviv District Prosecutor (Taxes and Economics), following the completion of the Securities Authority’s investigation.
The department investigated a list of suspicions including securities fraud, reporting violations, fraudulent receiving, fraud and breach of trust at a company, money laundering, obstruction of justice, and witness tampering.
Dankner was released on conditions, his passport was confiscated and he requires court clearance for any foreign travel. He also deposited millions of shekels in guarantees.
The Securities Authority investigated the events surrounding IDB Holding’s offering in February 2012, in which Dankner allegedly manipulated ISP Financial Services to fraudulently enhance IDB’s share price.
Hauser said, “I thank the Securities Authority’s investigation team for its hard work to complete this investigation and submit the case to the prosecutor as quickly as possible. This was a complicated and multifaceted investigation that included extensive investigation of the parties involved. The investigation was kept confidential, before it went public, and the investigation team was meticulous and unbiased throughout, cutting no corners.”