Moshe Goldman was sentenced to actual imprisonment – the capital market

Moshe Goldman, former investment manager at Psagot’s provident funds, was sentenced to three and a half years in prison after being convicted in a plea bargain of securities fraud, coordinated transactions, giving and receiving bribes, money laundering, dismissal and obstruction of justice. In the framework of the share run case, Shaul Maor and Hadar Asherat were convicted of various offenses.

As part of the settlement, Goldman and Maor pleaded guilty last November to offenses, while the indictment was dropped, Goldman’s wife, Yael, who was also charged, with money laundering offenses.

This is one of the major provisions sought in the local market, when according to the indictment, during 2008-2014, four senior executives in the local capital market, including Goldman and Maor, made transactions in peer money that they lost in favor of a profitable account they owned. As a result of the scam, they made NIS 11 million in money at the expense of the members. In light of the 4’s attempts to hide the actions, the State Attorney’s Office charged them with money laundering offenses amounting to a higher amount of NIS 20 million.

The prosecution accused Goldman and Maor of making transactions between Psagot’s pile provident fund accounts, which the former was in charge of, and a straw account managed at the latter’s investment house. In doing so, the two managed to rake in a coupon in the press account at the expense of savers.

As for Hadar Asherat, a former director of the Deutsche Bank Israel stock trading room, he was convicted of fraud and breach of trust in the corporation and receiving anything fraudulently under aggravated circumstances, by giving Goldman a significant share in Cellcom share distribution transactions, while receiving a sum of about NIS 1 million.

Along with the actual prison sentence, Goldman was given a suspended sentence and a fine of one and a half million shekels (along with forfeiture of additional amounts). The judge sentenced Maor to 30 months in prison, a suspended sentence and a fine of NIS 750,000. In Hadar’s case, the plea agreement was open, and while the prosecution claimed 15 months of actual imprisonment and protection for eight months of imprisonment to be served in service jobs, Agmon-Gonen sentenced him to 11 months of actual imprisonment, a suspended sentence and a fine of NIS 500,000.

According to a statement from the judiciary, the case of another defendant, Zvi Schiff, has been suspended since it was not located, and the case in the case of Yigal Levy, who is also charged in the case, is still pending.

The Tel Aviv District Judge who discussed the case, Dr. Michal Agmon-Gonen, wrote in the ruling that, as a rule, little weight should be given to the fact that economic offenders, in addition to committing the offenses for which they are convicted, conduct their personal lives and the economic crime they commit. , As well as the suffering that those economic offenders cause to their family members, especially when the motive for committing the offenses is an economic motive.

Agmon-Gonen also called for an end to the use of the term “white collar” offenses, which she says “implies that there is at least something of the white in these offenses – a color that implies purity and cleanliness.” Compared to this phrase, according to the judge the use of terms such as economic crime and economic criminals presently describes reality.