Lawyer Yisrael Perry, who was convicted of defrauding Holocaust survivors of nearly a billion shekels, was arrested on Monday after police suspected that he planned to flee the country. Perry was picked up by officers of the National Fraud Squad in Tel Aviv after the police unit received advance intelligence on the matter. Earlier in February, the Supreme Court rejected Perry's appeal of his sentence of 12 years in prison. The court did reduce the jail time, however, to 10 years. In February 2008, Perry was found guilty of stealing 320 million German marks (around NIS 900m.) from tens of thousands of clients of the Organization for the Realization of the Social Security Treaty, a company established and controlled exclusively by Perry. Its declared mission was to assist Israelis in receiving compensation from Germany in the form of social security pensions.