Boaz Yonah, former CEO of Heftziba, is a real estate developer suspected of creditors' fraud

Yona, who was convicted and imprisoned in 2008 for embezzling the company's finances, was arrested two days ago on suspicion of creditors' fraud, money laundering and other offenses.

Apart from the suspect, who is in bankruptcy proceedings and has debts of about NIS 1.8 billion, an investigation is also underway against his family members and associates.

Yael Friedson

05/01/2022

Wednesday, 05 January 2022, 07:19 Updated: 07:36

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Boaz Yonah (Photo: Flash 90, Noam Moskowitz)

Boaz Yonah is the real estate entrepreneur suspected of creditors 'fraud - this was allowed for publication today (Wednesday). Yonah was arrested on suspicion of creditors' fraud, money laundering and other offenses

. , And even ran a lengthy prison sentence in the same case, in which the Heftziba group, in which he served as CEO, collapsed.

As part of its recent bankruptcy proceedings, it has accumulated heavy debts, amounting to about 1.8 billion.

According to the suspicions that the police attribute to the businessman, he hid income and assets from his creditors, and transferred bank accounts and various companies in the names of others.

Following an undercover investigation, investigators raided the suspect's home and other homes and offices.

More on Walla!

Hiding income and assets: A well-known real estate man, who has previously served a prison sentence, is suspected of money laundering

To the full article

More about Boaz Yonah

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Yona was sentenced to just four-and-a-half years out of a seven-year prison sentence handed down to him for embezzling company funds, after being released earlier than expected due to overcrowding in the prison cells.

The Heftziba company collapsed in 2007 due to a huge embezzlement by its managers, leaving many families homeless.

Yona fled to Italy and was extradited to Israel.

When he landed in Israel, he claimed that he had decided to "return from longing."

In 2008, he was sentenced, in a plea bargain, to seven years in prison, and was ordered to pay the victims four million shekels.

In 2012, the IPS Parole Board deducted a third of Yona's imprisonment and also decided on an administrative shortening of his sentence.

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