An expected presidential pardon for one of Israel’s most prominent businessmen, now serving a three-year sentence for stock manipulation, is being delayed because he is a suspect in a new police investigation.
The Rishon Lezion Magistrate’s Court lifted a gag order today on the new investigation into Nochi Dankner, the former controlling shareholder of IDB Holding Corp.
However, the court only allowed reporting on the existence of the new police probe, not on the details of the case.
Nochi Dankner seen at the Supreme court in Jeruslaem on April 23, 2018. (Yonatan Sindel/Flash90)
Once one of the wealthiest people in Israel, Dankner, 65, was convicted in 2016 of securities fraud over his efforts to manipulate the stock price of his company as it struggled to remain financially solvent in 2012. He appealed his two-year sentence to the Supreme Court, but in an August 2018 decision the higher court added a year to the sentence. Justice David Mintz said the mogul’s behavior had hurt public confidence in the securities market and merited a more severe punishment.
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