Connect with us

Hi, what are you looking for?

Jewish Business News


Israeli Businessman Rami Levy arrested on suspicion of fraud

According to suspicions, the head of the council acted to reduce the betterment levy that had to be paid by the mall owned by Levy and his partner. In exchange, Levy and his partner employed the mayor’s wife as a senior manager of the mall.


Police detained businessman Rami Levy on Sunday morning for questioning. At the same time, a local council head, a local newspaper manager, and another businessman are being investigated. The four are suspected of fraud and breach of trust. Rami Levy’s securities trading has been suspended and it will issue a notice of the investigation of Levi, who serves as the company’s CEO.

According to the police’s announcement, at the end of a covert investigation of several months, suspicions arose regarding the council’s conduct vis-à-vis owners of the shopping mall in its municipal area and the director of the local newspaper. According to suspicions in the affair, the council head promoted decisions that were beneficial to Levy and his partner regarding the mall in the area of the council and is owned by them, in a conflict of interest.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

According to suspicions against Levy, he and his partner in the mall worked with the mayor’s wife. Her work was suspected of being carried out in return for various actions carried out by the council head in order to promote the mall’s commercial interests, including lowering the betterment levy.

Who is Rami Levy and why investors love him


The reduction of the betterment levies was equal to the savings of millions of shekels. However, according to the head of the council, his wife began working at the mall owned by Levy only after they separated.

According to the announcement, this is an investigation that recently went into the open stage, during which the ISA interrogators conducted a search in the council offices for the purpose of seizing documents and detained a member of the council, and this morning four other suspects were detained along with a search carried out in their homes.

Against Levy, who was detained this morning was conducted until more than a year ago an investigation into the suspected use of personal information through his cellular company Rami Levy Communications’s systems, which was transferred to the Jerusalem District Prosecutor’s Office with the police’s recommendation that there is enough evidence to prosecute him.

Levy’s attorney, attorney Gadi Tal, told Calcalist: “My client is constantly working in his private and public affairs in a direct and flawless manner. We believe and hope that this will be the case this time too.”

Rami Levy’s share plummets 6.5%; The company reported to the stock exchange: Rami Levy was questioned by the police on suspicion of fraud and breach of trust.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News