Boaz Yona indicted on fraud charges
State indicts former Heftsiba CEO on charges of conspiracy, fraud, larceny, falsifying corporate documents; Yona to be sentenced to seven years in prison, pay $1.2 million in damages
The State Prosecutor's Office filed an indictment against former CEO of the Heftsiba Construction Company, Boaz Yona, with the Jerusalem District Court on Monday.
The indictment includes counts of conspiracy to commit a crime, fraud, receiving of fraudulent benefits, falsifying corporate records, aggravated larceny, forgery, executive theft, use of falsified documents, and illicitly use of corporate funds.
The former CEO and owner of Heftsiba fled to Italy when the investigation against him became public. The Israeli Police declared him a fugitive and an international warrant was issued for his arrest. Interpol was also involved in the manhunt.
Yona was finally tracked to Italy, arrested and extradited back to Israel after a lengthy legal proceeding.
Once back in Israel, Yona was immediately placed under arrest and taken into the National Fraud Unit's custody. The State Prosecutor's Office and Yona's attorney agreed on a plea bargain under which Yona would plead guilty on all counts and would serve seven years in prison.
Yona would also have to pay damages to the people affected by Heftsiba's collapse, to the amount of NIS 4 million (approx. $1.2 million).
The Justice Ministry issued a statement saying the plea bargain included Yona's full confession, which allowed law exhaustion of all legal measures against him and other individuals involved in the case.
Aviad Glickman contributed to this report
