Former Finance Minister Hirchson indicted for fraud - Israel News, Ynetnews

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Professed innocence. Hirchson Photo: Alex Kolomoisky
Professed innocence. Hirchson Photo: Alex Kolomoisky

Former Finance Minister Hirchson indicted for fraud

State Prosecution files charges against former finance minister on theft, breach of trust, falsification of corporate records. Hirchson believed to have embezzled over $1.2 million while serving as head of National Labor Federation

Avi Cohen
Published: 06.04.08, 09:41 / Israel News

The State Prosecutor's Office filed an indictment against former Finance Minister Abraham Hirchson on Wednesday on multiple charges of theft, aggravated fraud, breach of trust, fraudulently obtaining funds, money laundering and falsifying corporate documents.

Harsh Charges
Draft of Hirchson's indictment released  / Vered Luvitch
According to draft, former finance minister and four other defendants stole millions of shekels from educational organization
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The State was able to press charges against the former minister after he relinquished his parliamentary immunity, opting to stand trial.


Hirchson pled not guilty on all counts.


According to the indictment, Hirchson is suspected of embezzling a little over NIS 4 million (over $1.2 million) during his tenure as head of the National Labor Federation, between 1998 and 2005. The State further claimed he pocketed about half of the funds.


The indictment further said that Hirchson and 11 other accomplices conspired to pilfer federation funds, cashing various checks and transferring some of the funds to Hirchson personally.


"The defendants carried our various acts of money laundering in an attempt to hide the true nature of the funds," said the State Prosecutor's Office in its legal brief. "They knowingly handled restricted property and falsified corporate records in the process."


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