Israel Supreme Court sentences business tycoon to 3 years for stock fraud News
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Israel Supreme Court sentences business tycoon to 3 years for stock fraud

The Supreme Court of Israel [official website] on Wednesday denied appeals from business tycoon Nochi Dankner and his co-defendant Italy Strum and sentenced each to an additional year in prison for charges related to stock fraud.

Dankner, former controlling shareholder [Israel Times report] of IDB Holding Corporation, was sentenced in 2016 to two years. He was convicted for engaging in fraudulent transactions to influence the value of his company’s stocks. Dankner and Strum appealed the decision, saying his actions, though improper, were not fraudulent.

The Supreme Court denied both men’s appeals and added an additional year, hoping the sentences will send a message that white collar business crimes will no longer be tolerated. Dankner will begin serving his sentence on October 2.

THIS DAY @ LAW

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