The Cohen brothers were convicted of using inside information in the case of BiondVax – the capital market

5 years after the affair exploded, District Court Vice President Khaled Kabov convicted brothers Tal and Roi Cohen of using inside information in the affair

BiondVax
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BiondVax
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– which is another milestone in the authorities’ attempt to combat the phenomenon. The brothers knew in advance of the company’s signing with the US authorities for a joint experiment and purchased shares before the information was published with the intention of profiting from its rise.

According to the indictment, the Cohen brothers bought the company’s shares after learning that the company intends to conduct a joint experiment with the US Department of Health and Human Services. The information, according to the prosecution, was passed to Tal Cohen due to his ties with the CEO of Biondex during the period. That preceded the publication of the information. ”

The brothers claimed the prosecution had taken a where-and-where approach when it did not blame people suspected of the affair. Judge Kabov used the verdict in the Nochi Dankner case and wrote that “conviction of a criminal defendant on the basis of circumstantial evidence only requires the court to find that the incriminating version is the only logical conclusion that is probable from the evidence presented to it.” It is obliged to examine the ‘half-empty glass’ while seriously and thoroughly examining any qualifying alternative explanation that could have been accepted in the circumstances of the case. ”

Kabov stated that the brothers had the mental basis to know that this was a prohibited use of inside information and stated that Tal was convicted of 2 counts of use of inside information and Roi was convicted of 6 counts. The verdict will be handed down in the coming weeks.

Why did it take 5 years to decide? Only God knows
Well done to the star. really. The problem is time. Two years after the CEO of BiondWax admitted the transfer of inside information and 5 years after the offense, the court finally made a decision. Technically the brothers can still appeal, but without new and cutting evidence, he has little chance of being accepted.

In any case, the authorities must begin to press and set foot on the pedal in matters of immorality offenses that impair fair trade. If we take a moment from the United States, then from the moment the Ponzi pyramid built by Bernie Madoff was discovered, an affair in which tens of billions of dollars were lost, an indictment was filed against him for three years that lasted nearly 40 years.

In such a small and legally clear case, it does not make sense for the verdict to last so long. This is not such a complex case that justifies it. Moreover, it harms their defendants stands the presumption of innocence, but a dark and heavy cloud hovers over them as long as their sentence is not decided. It’s time for it to stop. The problem is that this will not happen any time soon.