Former finance minister Moshe Kahlon is convicted in a plea bargain of securities reporting offenses related to his time as chairman of the Unet Credit company.
According to the indictment filed with the Tel Aviv District Court, Kahlon was informed of “substantive irregularities” in Unet’s Nazareth branch but “did not act to fully inform the company’s board of directors of all the information as required by the securities law,” the State Attorney’s Office announces.
The problems in the Nazareth branch were only presented to the board five months after Kahlon had been made aware of them, and the company then announced the issue to the public.
Kahlon resigned from his position shortly afterwards.
The former Kulanu party leader and ex-Likud lawmaker was given a suspended prison sentence and issued an NIS 180,000 fine ($64,000) within the framework of his plea bargain.
He is also barred from holding office in a public company for 18 months from today.
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