Suspicious Real Estate Deal Raises Questions About Haredi Party Ties
Translated & summarized from TheMarker by baba
An association funded by public money, "Lev Bonim Al Avotam," purchased a property in Bnei Brak for NIS 9.4 million. The deal involves senior figures from the Degel HaTorah party, including board member David Shapira and CEO Kobi Rosenstein, who have prior business ties. Questions are being raised about the necessity and price of the acquisition, with the property registered as a basement level despite being described as an apartment in the association's reports.
The story in 4 lines · by baba
- An association received NIS 9.4 million for a property purchase in Bnei Brak.
- The association is funded primarily by public money and linked to Degel HaTorah.
- Key figures in the deal, David Shapira and Kobi Rosenstein, have prior business connections.
- The property's description differs between association reports and land registry records.
An association that receives most of its funding from public money and whose board included David Shapira, a prominent figure in the Degel HaTorah political party, purchased a property in Bnei Brak for NIS 9.4 million. The selling company is registered at the home of the association's CEO, Kobi Rosenstein, who has prior business dealings with Shapira.
The association, "Lev Bonim Al Avotam," which operates the Meir Lev Banot seminary in Modi'in Illit, is involved with senior figures from the United Torah Judaism party. The transaction raises questions about why an association, largely funded by the state, would acquire real estate seemingly unrelated to its activities for an unusually high sum, especially given the business and political connections between senior figures on both sides of the deal.
According to the association's reports, the property is described as an apartment, but it was registered in the Land Registry as a basement level.