Current and Former Likud Officials Detained Over Multi-Million Shekel Economic Crimes
Officers from the Lahav 433 unit have detained several businessmen on suspicion of bankruptcy fraud and asset concealment. The suspects include current and former senior Likud party officials.
Officers of the YALEK (National Unit for Combating Economic Crime) within Lahav 433, in coordination with the Commissioner for Insolvency and Economic Rehabilitation, detained several businessmen for questioning this morning (Monday). Among those detained is a contractor currently undergoing bankruptcy proceedings, suspected of concealing rights to real estate and smuggling assets.
Those detained include current and former senior officials of the Likud party, as well as individuals associated with them. Police allege that the contractor, who has been in bankruptcy proceedings since 2012, acted to hide his rights to various real estate assets worth tens of millions of shekels and smuggled assets under his control during the bankruptcy process.
"In doing so, he violated his obligation to disclose and report his assets during the process," the police stated. "The investigation findings indicate that the suspects acted in a sophisticated and systematic manner to hide their rights from the authorities and rake in huge sums for their own pockets. With the transition to an open investigation, a large amount of property has been seized with the aim of forfeiture during subsequent legal proceedings."
