BREAKING NEWS

Court rejects 3rd retrial request for convicted businessman in German Pension Affair

MARCH 16, 2014 18:32

Supreme Court Justice Neal Hendel on Wednesday rejected Yisrael Perry’s third request for a retrial of his 2007 conviction for embezzling funds and committing fraud in the so-called German Pension Affair.

The case involved 8,555 pensioners and over 270 million deutschmarks, the equivalent of more than €130m. In 1973, West Germany and Israel signed an agreement enabling certain Israelis to receive German pensions. Perry ran a company that facilitated the application process in exchange for the purchase of life insurance and permission for the company to collect a fee from the pension payments.

In 2001, he was indicted for a massive fraud scheme. He was convicted in 2007.

He submitted two prior requests for a retrial in addition to the one rejected on Wednesday.

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