Rivlin shortens prison term of jailed former business tycoon, citing health woes

President Reuven Rivlin shortens the prison term of prominent businessman Nochi Dankner by some four months, allowing him to request early parole on good behavior this month, instead of waiting until May.

The four months’ incarceration will be converted to a suspended sentence.

“The decision was taken in light of Dankner’s current medical situation. These medical circumstances were not brought before the court at the time of sentencing [in 2018] and, according to medical advice, have worsened significantly during his time in prison and require urgent medical intervention,” the president’s office says.

Dankner, the former controlling shareholder of IDB Holding Corp, is serving a three-year sentence for stock manipulation and other offenses.

Danker, once one of the richest men in Israel, was initially set to serve two years in prison, but the Supreme Court in 2018 tacked on another year when he appealed the sentence, citing his role in carrying out millions of dollars’ worth of fraudulent transactions in an attempt to influence the share price of his troubled company.

He had sunk into massive debt with the banks and hit a brick wall trying to raise cash or get further loans.

He began serving his sentence on October 2, 2018.

Dankner’s pardon request also asked Rivlin to expunge his criminal record. The president rejected the request.

— with agencies