Senior Likud Official and Bankrupt Contractor Investigated for Concealing Real Estate Assets

Israeli authorities are investigating a senior Likud party official and a well-known contractor currently undergoing bankruptcy proceedings for allegedly hiding real estate assets worth tens of millions of shekels. The investigation, led by the Lahav 433 unit, also involves one of Israel's wealthiest families and has resulted in the seizure of significant property intended for future confiscation.

The contractor, who has been in bankruptcy since 2012, is suspected of deliberately concealing ownership rights to various real estate holdings and transferring assets to avoid creditors. This conduct violates his legal obligation to disclose assets during bankruptcy proceedings. Police also suspect that the businessman engaged in fraudulent activities with a prominent restaurateur, with whom he is involved in a legal dispute over 30 to 40 million shekels.

The investigation uncovered a sophisticated and systematic scheme by the suspects to hide their property rights from authorities and amass large sums of money illicitly. The case has intensified following the suspects' detention and the public phase of the inquiry. Notably, the contractor Alon Hakmon was previously targeted when a grenade was thrown near his home, underscoring the case's high-profile nature.

The police continue to gather evidence as the legal process advances, aiming to confiscate the seized assets as part of the ongoing criminal proceedings.