Amir Bramley was sentenced to 10 years in prison – the capital market

Following the suspicion of threats to the environment of the judge who discussed the case in his case and the rejection of his request to replace him, Amir Bramley was sentenced to 10 years in prison after being sentenced in the investor fraud case. The court ruled last October that through the Kela Fund and the Rubicon Group, which it owns, Bramley deceived about 550 investors to the tune of NIS 340 million.

The offenses for which Bramley was convicted include money laundering offenses, fundraising without a prospectus, receiving anything fraudulently under aggravated circumstances and theft by an authorized person. This is a Ponzi scheme that Bramley committed when he promised the holders of his Kela bond bonds double-digit returns while the fund’s activity was deficit.

Bramley continued to raise funds from new investors while making a misrepresentation, and through the sums repaid loans to existing investors. Bramley made promises to investors that their money would be returned within 72 hours, however, he broke his promise.

The ruling also attributed to Bramley a series of acquisitions of failed companies as well as withdrawal of funds from the fund for private uses. The investigation into the case was opened in 2016 and deals with events that occurred between the years 2012-2015. During the handling of the case, suspicion arose that Bramley had made threats and tried to blackmail the son of District Court Judge Khaled Kaboub.

Bramley, for his part, sought to disqualify the judge as an oboe, but the application was denied in two instances even after he appealed to him. In the verdict in the case, Kabub wrote that Bramley “knew that the investors were interested in a solid and safe investment and that they would not have invested at all if they had known what the use would be of their money.”

The Securities Authority said in reference to the sentence in the Bramley case: “This is the most severe sentence handed down in securities cases and a significant punishment that expresses a strict approach to fraud in the capital market. The sentence sends an important message to every entrepreneur – that fundraising from the public must be done according to the law, honestly and transparently. The sentence is an important message and also discourages the general public from being wary of unsupervised ventures and promises of excessive returns. ”