Police say they have arrested the CEO of a major international medical device firm on suspicion he embezzled tens of millions of shekels from the company.
A statement from the police spokesperson does not name the CEO or the firm, but describes him as a 49-year-old man from a community near Be’er Tuvia, in southern central Israel. The firm is based in Yavne, according to police.
A fallen tree in Yavne amid strong winds and rain, October 25, 2015. (Inbar Anolik)
Police accuse the man of stealing the money systematically over several years and using it to build himself some flashy digs and nice rides.
“The man used the stolen money, apparently, for himself to build a luxury home on the moshav and a pool and to buy many other things and many vehicles, including ATVs and luxury cars,” the police statement says.
Police say they arrested him Tuesday morning and raided his home. He’s slated to be brought before a judge for an arraignment on Wednesday morning.
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