Ex-Heftsiba CEO gets 7-year jail term
Jerusalem court approves in principle plea bargain signed with Boaz Yona, who escaped to Italy following his construction company's collapse, orders him to pay NIS 8 million in restitution clients who lost their money when firm filed for bankruptcy
Yona was found guilty last month of a slew of fraud charges, pertaining to the company's collapse in the summer of 2007, which left thousands of families homeless.
Judge Moshe Ravid adopted the plea bargain signed between Yona and the State Prosecutor's Office in terms of the prison term, but doubled the original fine included in the deal.
The judge wrote in the verdict, "We must honor the plea bargain in terms of the prison term. I believe that without the prison term, the accused would have gotten a longer jail term. We must pay attention to the severity of his actions."
In regards to the compensation, Judge Ravid wrote, "My view is that the prosecution did not fully and appropriately consider the interests of the company's victims and the heavy damage they suffered."
'Yona understands the severity of his actions'
Attorney Yair Golan, Yona's lawyer, said after the court hearing, "In total, the result reached is the result was agreed on. As for the restitution, we raised funds even though the prosecution understands that Yona has no money.
"We respect the sentence and Yona has accepted my views and sees the result in the sentence as a result reflecting the opinion of both sides. He understands the severity of his actions. Yona is suffering and has bee subject to difficult conditions during his arrest. He has undergone a grave and deep process."
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.
August of 2007 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.
During last month's court hearing, Yona was booed by dozens of Heftsiba's casualties as he entered the courtroom and offered his apologies to the small crowd. "I made a mistake. They deserve an apology," he said.
"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."
