Former Kadima officials indicted for embezzling over NIS 2 m.

According to the indictment, Hadad and Maimon illegally accessed and utilized around NIS 2,250,000 of party funds for personal use.

May 16, 2016 20:39
1 minute read.
Shaul Mofaz

Kadima chairman MK Shaul Mofaz. (photo credit: MARC ISRAEL SELLEM/THE JERUSALEM POST)


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Three former top Kadima party officials were indicted on Monday in the Tel Aviv District Court for embezzling around NIS 2,250,000 during their tenure with the party from 2006-2011.

The indictment, filed by the Tel Aviv Economic Crimes Unit, named the three former Kadima officials as: Yitzhak Hadad, treasurer; Mordechai Maimon, an outside consultant; and Hanoch Hazeen, the head of information systems.

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Also indicted were YALM Investments Ltd., YPL Investments and Asset Management Ltd. and HMAK Technology Investments Ltd., which were alternately used by the three individual defendants as straw companies or to otherwise cover up and facilitate their alleged embezzlement scheme.

The formal charges against the three were theft from a client; money-laundering; acceptance of an item under exaggerated fraudulent circumstances; falsifying corporate documents; breach of corporate trust and corporate fraud; illegal possession of a database; and violation of privacy rights.

According to the indictment, Hadad and Maimon illegally accessed and utilized some NIS 2,250,000 of party funds for personal use while falsifying corporate documents to cover up their crimes.

Hazeen then worked with Maimon, under the direction of Hadad, to found HMAK, which supplied computer equipment to Kadima to the tune of millions of shekels.

The three concealed their ownership over HMAK from the rest of Kadima in order to further the scheme.


Hadad and Hazeen also are accused of illegally maintaining a database with personal data of party members and using the database in violation of party members’ right to privacy.

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