Tax Authority raids Maccabi Tel Aviv offices in wake of Fanan suicide

Tax Authority raids Macc

October 25, 2009 17:17

The Tax Authority raided the offices of the Maccabi Tel Aviv basketball team Sunday, beginning an investigation that may eventually implicate many top figures in the Israeli sports world, including past players, coaches, members of other teams and perhaps even referees. The investigation was launched following the suicide of Moni Fanan, who hanged himself last Monday after accumulating debts amounting to millions of shekels. Fanan allegedly received money from investors after promising very generous interest rates. It is assumed he committed suicide when debts accumulated and he realized he could not keep his obligations to the investors.

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