AIRLINK 189.40 Decreased By ▼ -7.25 (-3.69%)
BOP 10.08 Decreased By ▼ -0.06 (-0.59%)
CNERGY 6.69 No Change ▼ 0.00 (0%)
FCCL 33.91 Increased By ▲ 0.89 (2.7%)
FFL 17.19 Increased By ▲ 0.54 (3.24%)
FLYNG 23.74 Increased By ▲ 1.29 (5.75%)
HUBC 125.92 Decreased By ▼ -1.37 (-1.08%)
HUMNL 13.77 Decreased By ▼ -0.13 (-0.94%)
KEL 4.76 No Change ▼ 0.00 (0%)
KOSM 6.54 Increased By ▲ 0.17 (2.67%)
MLCF 43.06 Increased By ▲ 0.84 (1.99%)
OGDC 223.02 Increased By ▲ 9.99 (4.69%)
PACE 7.38 Increased By ▲ 0.37 (5.28%)
PAEL 41.70 Increased By ▲ 0.83 (2.03%)
PIAHCLA 17.33 Increased By ▲ 0.51 (3.03%)
PIBTL 8.40 Increased By ▲ 0.11 (1.33%)
POWER 9.04 Increased By ▲ 0.22 (2.49%)
PPL 192.50 Increased By ▲ 8.93 (4.86%)
PRL 37.23 Decreased By ▼ -1.04 (-2.72%)
PTC 23.92 Decreased By ▼ -0.15 (-0.62%)
SEARL 93.99 Decreased By ▼ -1.12 (-1.18%)
SILK 0.99 Decreased By ▼ -0.01 (-1%)
SSGC 39.94 Decreased By ▼ -0.37 (-0.92%)
SYM 17.74 Decreased By ▼ -0.47 (-2.58%)
TELE 8.65 Decreased By ▼ -0.08 (-0.92%)
TPLP 12.39 Increased By ▲ 0.18 (1.47%)
TRG 62.45 Decreased By ▼ -1.91 (-2.97%)
WAVESAPP 10.25 Decreased By ▼ -0.19 (-1.82%)
WTL 1.77 Decreased By ▼ -0.02 (-1.12%)
YOUW 4.02 Increased By ▲ 0.02 (0.5%)
BR100 11,727 Increased By 4.3 (0.04%)
BR30 35,667 Increased By 307.4 (0.87%)
KSE100 113,106 Increased By 467.6 (0.42%)
KSE30 35,635 Increased By 176.9 (0.5%)

A Tel Aviv court sentenced former Israeli finance minister Avraham Hirchson to five and a half years imprisonment Wednesday, after he was found guilty two weeks ago of embezzlement.Hirchson was also ordered to pay a 450,000-shekel (114,000-dollar) fine.
Hirchson had been indicted on multiple counts of larceny, executive theft, fraud, breach of trust, illicitly obtaining funds, money laundering and falsifying corporate documents, for allegedly embezzling about 4 million shekels (over 1.2 million dollars) during his tenure as head of the National Federation of Workers (NFW) between 1998 and 2005.
He received monthly payments of 25,000 shekels (6,200 dollars) for expenses, as well as large sums of money for trips abroad, medicines, holiday "bonuses," and for political activity that included two primary campaigns for the Likud party. The NFW also paid more than 120,000 shekels (30,000 dollars) for Hirchson's restaurant bill for meals on the weekends, when he was not working, and in parliament.
Prosecutors said Hirchson used the money to pay off large debts accumulated by his son. During the trial Hirchson at first denied the accusations, then expressed regret, then tried to portray himself as a victim. The judge however refused to accept his explanations. On Tuesday Hirchson returned 570,000 shekels (145,000 dollars) in cash to the NFW, as well as 1.16 million shekels (294,000 dollars) in checks.
The 68-year-old former finance minister is one of several high- profile Israeli politicians under police investigation or on trial. Former president Moshe Katsav is currently on trial over allegations of rape, sexual harassment and committing an indecent act.
Former premier Ehud Olmert also faces possible incitement on charges of fraud, breach of public trust and receiving illicit funds, much of it in cash, from a US businessman, and for having multiple- billed travel expenses while serving in public office in the years before he was elected premier in March 2006. And Foreign Minister Avigdor Lieberman is currently being investigated by police on suspicions of money-laundering, bribe- taking, fraud and breach of trust.

Copyright Deutsche Presse-Agentur, 2009

Comments

Comments are closed.