Nochi Dankner: No legal fault involved - Israel Business, Ynetnews

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Nochi Dankner Photo: Amit Shaal
Nochi Dankner Photo: Amit Shaal

Nochi Dankner: No legal fault involved

Owner of IDB Group's controlling interest issues letter to corporation's employees following investigation on suspicion of illegal stock manipulation. "In each and every step of the offering, I obeyed the law and the rules'

Golan Hazani, Calcalist
Published: 11.30.12, 07:33 / Israel Business

Nochi Dankner, holder of controlling interest of the IDB group, sent a letter on Thursday to the group's employees, following an investigation into his alleged role in a stoke manipulation scam.


"In each and every step of the offering, I obeyed the law and the rules in order to ensure a proper offering," Dankner wrote."My entire behavior was in keeping with this objective."


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"I have explained this in detail to the Israel Securities Authority. The Authority is doing its job and is looking into the matter extensively. I am convinced that my explanations and the material that I have handed over to the Authority, and that which will be collected, will prove in the clearest manner that there was neither legal fault nor misconduct on my part. I'm continuing to operate determinedly to ensure IDB meets all of its challenges."


Dankner is suspected of involvement in a securities scam and additional offenses in connection with the IDB offering last February. City Broker Chairman Adi (Yehuda) Sheleg, as well as the owner of Financial Trading Itay Strum, are suspected of involvement in the affair as well.


The investigation at the ISA began as a covert operation but was publicized this week. It involves suspicions of the involvement of the three in securities manipulation, reporting offenses, fraudulent receipt in aggravated circumstances, corporate breach of trust and offenses related to the anti-money laundering law.


This report was originally published in Hebrew by Calcalist



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