The Bank of Israel on Sunday answered back critics who say lenders and regulators were too ready to give tycoons and their holding companies loans and too hesitant in trying to get repaid when the loans went bad.
“The verdict in the Nochi Dankner case, as admitted by the Court itself, is based on circumstantial evidence.
Nochi Dankner, formerly one of Israel’s most powerful businessmen, was sentenced on Monday morning to two years in prison and fined 800,000 shekels (almost $200,000) for stock running.
They once pulled the strings of Israel’s economy, but now the country’s most influential tycoons are reeling under a popular backlash against corporate power and selling assets in a regulatory squeeze.
Nochi Dankner, formerly one of the most powerful businessmen in Israel, was found guilty on Monday of stock manipulation and other securities’ offenses.
Israeli businessman Nochi Dankner survived a helicopter crash in the South American jungle several days ago.