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Photo: Yaron Brener
Where's the money?
Photo: Yaron Brener

Financial scandal stirs haredi community

Owner of Homesh Investments, believed to have fled Israel after company lost tens of millions of shekels of clients' money, refutes rumors, says he's trying to rectify the situation

A financial scandal is stirring the ultra-Orthodox community: Homesh Investments, one of the sector's biggest firms, said to mangage assets worth tens of millions of shekels, may be on the verge of bankruptcy.

 

Homesh's owner, haredi businessman Asher Shapranovich, was rumored to have disappeared, and possibly to have fled Israel, but he refuted those assumptions by turning up at the firm's offices in Bnei Brak.

 

According to suspicions, hundreds of Shapranovich's clients have lost all of their money – tens of millions of shekels – due to ill investment.

 

Shapranovich is known throughout the haredi community as a philanthropist who has donated millions to charity.

 

According to the sector's media, his clients had only a minimal return on their investments. Once rumors of financial difficulty began circling the community, many of them arrived at the posh Bnei Brak officers, only to find he was gone.

 

Shapranovich attempted to allay concerns Tuesday, saying he and his people are working to rectify the situation.

 

The Tel Aviv District Police said they had no knowledge of the case and that no complaint has been filed on the matter.

 


פרסום ראשון: 07.14.09, 15:28
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