Former and Current Likud Figures Detained in Multi-Million Shekel Economic Crime Probe

Israeli police from the National Unit for Economic Crime Investigations (Ya'alak) at Lahav 433, together with the official overseeing insolvency and economic rehabilitation procedures, detained several businessmen on Monday morning for questioning. Among those detained were a former Likud Knesset member currently holding a senior position, as well as individuals associated with Likud both past and present. The suspicions involve concealing ownership rights in real estate assets and smuggling assets while undergoing bankruptcy proceedings.

The main suspect is a contractor who has been in bankruptcy proceedings since 2012. Police allege he concealed his rights in various real estate properties worth tens of millions of shekels and smuggled assets under his control during the bankruptcy process, violating his obligation to disclose his assets. Authorities stated that the suspects acted in a sophisticated and systematic manner to hide their ownership from the authorities and illegally profit large sums.

Following the transition to an open investigation and the suspects' detention, a significant amount of property was seized to be confiscated later in the legal process. This investigation comes amid heightened tensions within Likud ahead of the party primaries, following the Central Committee's recent approval of Prime Minister Benjamin Netanyahu and Minister Haim Katz's proposal granting Netanyahu eight reserved spots on the party's Knesset list and changes to the primary rules. Katz's initiative, supported by Netanyahu, allowing ministers and sitting Knesset members to run in districts passed by a narrow margin of two votes. Additionally, ynet reported yesterday that the Likud court is examining whether Netanyahu's party chairman vote was falsified.