Former Heftsiba CEO convicted of fraud
Boaz Yona enters guilty plea on charges of grand larceny, forgery, executive theft, fraud as part of plea bargain pertaining to construction company's collapse in summer of 2007; offers victims his apology
Boaz Yona, the former CEO of the Heftsiba construction company, was found guilty Monday of a slew of fraud charges, pertaining to the company's collapse in the summer of 2007.
Yona pled guilty to conspiracy to commit a crime, fraud, grand larceny, forgery, executive theft, falsifying corporate records, using falsified documents, illicit use of corporate funds and fraudulently receiving benefits.
Last august saw the former CEO and owner of Heftsiba flee 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, subsequently involving Interpol in the manhunt.
Yona was finally arrested in Italy and extradited back to Israel after a lengthy legal proceeding.
The State Prosecutor's Office and the defense entered the guilty plea in accordance to a deal devised by the sides. Yona is to serve a seven-year prison sentence and pay NIS 4 million (approx. $1.15 million) in restitution to Heftsiba clients who lost their money when the company filed for bankruptcy.
Yona, who was booed by dozens of Heftsiba's casualties as he entered the courtroom, offered his apologies to the small crowd, saying "I made a mistake. They deserve an apology."
"You don't deserve our forgiveness," someone yelled back at him. "You got off a plane and got a deal. You'll be in prison for what? Three years? We'll be paying for the rest of our lives."
The Jerusalem District Court will now have to decide whether or not the plea deal is acceptable.
