Israeli Real Estate and Tech Entrepreneur Suspected of Hiding 5 Million Shekels from Mike Ben Ari Investment
Yitzhak Londner, an entrepreneur in real estate and high-tech, is suspected of concealing approximately 5 million shekels in income received from Mike Ben Ari between 2017 and 2020. Ben Ari was convicted of a 335 million shekel Ponzi scheme involving hundreds of investors and sentenced to nine years in prison. The undisclosed funds allegedly came from Ben Ari's investment money and were used by Londner to purchase and build his home in Ra'anana.
The investigation, conducted by the Tel Aviv Tax Authority and based on information from Ben Ari's asset trustee, lawyer Lior Dagan, revealed that Londner failed to report income from interest payments received beyond his investment principal. These payments were made through bank transfers and other payments related to the home construction. Londner's asset declaration did not mention this investment.
Upon opening the investigation, Londner and his wife were detained, their home searched, one of their vehicles seized, and liens placed on their home and another vehicle. Londner was released on a 300,000 shekel bail, while his wife was freed. Despite opposition from the Tax Authority, a gag order was issued on Londner's name by Judge Tzipora Moshe of Bat Yam Magistrate's Court to prevent irreversible reputational damage. The gag order on Londner's wife was also upheld.
Recently, Judge Ravit Peleg Bar-Dayan of Tel Aviv Magistrate's Court denied Londner's request to extend the gag order, stating the evidentiary basis against him had strengthened and no exceptional harm was demonstrated. Londner appealed this decision, citing his age and longstanding reputation in business. The Tax Authority's representative argued no significant harm was shown and that such claims could apply to many businessmen. Judge Alaa Masarwa recommended Londner withdraw the appeal, which he did.
The investigation is nearing completion and the case will soon be forwarded to the prosecution for a decision on indictment.
