ISC opens criminal probe into Heftsiba collapse

The Israel Securities Commission on Tuesday opened a criminal investigation into the links between the bankrupt construction company Heftsiba and its subsidiary companies. Suspicious money transfers to the subsidiary companies and allegations of false financial reporting will be investigated. Meanwhile,funding company Peninsula Finances filed a separate petition to the Tel Aviv District Court against Heftsiba's recently-dismissed CEO Boaz Yona, saying that he was personally responsible for the company's debts.