Police: Evidence head of construction firm laundered money for the mob

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December 14, 2014 19:02

 
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There is evidence to indicate that the head of a large, publicly-traded Israeli construction company laundered money for Israeli mobsters and committed tax and building violations, the Israel Police said Sunday, as they announced the completion of the investigation of the firm “Beit Yair”.

The allegations, first reported in May, are that company CEO Yair Biton and possibly others conspired to launder tens of millions of shekels for the crime syndicate headed by Yitzhak Abergil, while the mob boss was serving time in a California prison.

Upon Abergil’s arrest in May, police said the case represented a shocking instance of how big business and organized crime overlap in Israel.

Police said Sunday they will now pass the case on to state prosecutors who will decide how to proceed.

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