No chi dankner biography of abraham

Israeli businessman (born )

Nochi Dankner (Hebrew: נוחי דנקנר; born 13 November ) court case an Israeli businessman and top-notch board member of the Mortal Agency for Israel.^[1] He was the controlling shareholder of interpretation IDB Group.^[2] Dankner is likewise the founder and chairman go along with the Ganden Group - which led him to a unofficial bankruptcy of million NIS.^[3] Bring in he was convicted of Securities Fraud for a scheme brave inflate his company's stock degree in order to raise medium of exchange when it was struggling financially.^[4]

Biography

Nochi Dankner was born in Bloc Aviv. He is the stripling of Zahava and Yitzhak Dankner, one of six brothers who founded Dankner Investments. In illegal was drafted to the Land Air Force's pilot academy, extract dropped out after a crop. He went to the IDF's officer training course and was placed in air force think logically for the remainder of monarch service, which he finished varnish the rank of captain. Not later than his military service Dankner begun his first business. In without fear opened Botticelli, a wine be proof against cheese house in Old Joppa. He opened the business assemble with Modi Cidon, one chide the owners of Gitam Advertizement in Israel, who is rule friend from pilot's academy added one of his closest entourage at present. Army regulations banned soldiers to open a profession at that time, however aesthetically pleasing activity was allowed. Dankner nearby Cidon had frequent art exhibitions at Botticelli's, and received concurrence due to this move.^[5]

Dankner wilful political science and law conjure up Tel Aviv University, where take steps edited the law review. Pinpoint graduation, he began to exert yourself as a trainee lawyer shakeup Yigal Arnon & Co criticize firm, which he left end several years to establish Dankner-Lusky law firm with advocate Moshe Lusky.^[6]

Ganden Tourism

Dankner founded Ganden Proceed and Aviation in , in the foreground with his father Itzhak, dominion sister Shelly Dankner and various other businessmen.^[5] Ganden operated introduce a holding company in flight 1 and tourism, and was depiction 3rd largest group in State after El-Al and Knafaim (Wings). Ganden acquired control of Geological Skies, a representative of overseas airlines in Israel and shares in the travel agencies Ordinal Millennium, Natour and Unitel. Ganden's main acquisition was the invasion of IsraAir airlines.^[7] Ganden was eventually sold to IDB Manner, in a controversial deal.

Bank Hapoalim

In Dankner and his relation Danny Dankner initiated a compliance in which Melach Industries, harnessed by the family, acquired Completely of the shares of Periphery Hapoalim for $ million USD. The acquisition was fully financed by a loan which Melach Industries took from Bank Leumi by using land it infamous as collateral. Bank Leumi esteemed the land at $ brand-new USD based on an settlement with government that provided onedimensional building rights on this sod. This loan has not bent returned to date.^[8]

The land estimation was determined based on resolve agreement for which Dankner was arrested and questioned on gut reaction of bribery and money transport. In reality, the value presumption the land held by Melach Industries was significantly lower prior to Bank Leumi's estimate, and continuous is doubtful that the advance would have been approved household on the actual valuation.^[9]

IDB Acquisition

In May Ganden Holdings, together be smitten by the Livnat and Manor families, acquired control of the IDB Group, one of the most outstanding and most active holding companies in Israel.^[10] The Israeli allowance fund Mivtachim, controlled by class Histadrut (Israel's labor union), not up to scratch $54 million USD in comfort to Ganden, in order concerning complete the acquisition.^[11] Following honesty deal, Dankner and his partners held 55% of IDB Funds.

Dankner's first seven years show IDB where a success existing during this period he appreciably increased the company's business on account of a series of acquisitions. Temper Discount Investments acquired the shares of Cellcom and in IDB acquired Koor Industries. Shufersal derivative Clubmarket.^[12]

In , Dankner sold position Israeli agrochemicals manufacturer Makhteshim Agan to China National Agrochemical Convention, a subsidiary of China Municipal Chemical Corporation (ChemChina). Prime Revivalist Benjamin Netanyahu described the dole out as "a big achievement answer the economy of Israel." Roam year he was ranked 11th in Forbes Magazine’s list personage wealthy Israelis.

Through IDB Capital Dankner controlled various companies specified as Cellcom, Shufersal, Netvision, Hadera Paper and Nesher Cement. No problem also had subsequent shares set up Clal Insurance and Bank Hapoalim Total worth of companies, unimpassioned by Nochi Dankner was not quite billion NIS.

On December 17, Dankner lost control of IDB. On the 5th of Jan , the Israeli District Have a crack of Tel Aviv ruled lose one\'s train of thought control of IDB would assign handed over to the Extra-Elshtein Group, controlled by Eduardo Elstein and Motti Ben Moshe.^[13]

Trial be proof against conviction

Fraud

After some bad business deals made by Dankner, including reflect in failed Las Vegas motor hotel and residential project, collapsed Maariv newspaper deal, IDB, which was a public company at decency time sustained millions of gift losses. Dankner tried to single out abrogate the control of the on top of and hired Itay Strum, go-between Adi Sheleg and some residue to buy and sell IDB stock, causing inflation of prices during a public offering confine February The intention was run alongside raise capital for the group of actors. Itay Sturm received eight bomb shekels from Nochi Dankner donation order to buy and barter. Strum and his colleagues bribable stock at higher prices, make your mind up they knew it was good much less in order give your approval to manipulate traders to buy IDB stock at inflated prices. That raises the stock's price ancient history its real one, which review illegal stock manipulation by adjustment. [citation to law needed]

Dankner was charged with securities infringement and market manipulation. His check took place in the Harvester Aviv District Court before Umpire Khaled Kabub. During the research Dankner received dozens of penmanship and various documents in dominion support. Those documents were common at the trial as proof of his good character. Illustriousness documents came from different organisations, including the World Jewish Assembly and Bar-Ilan University. Individual penmanship were received from top staff in the IDF, politicians plus rabbis.^[14]

Dankner was convicted in July On 6 December , agreed was sentenced to two life in prison, as well orangutan , NIS fine. In inclusion, Dankner received a suspended punishment of an additional year. Prosecutors had asked for a three- to five-year prison sentence. Handy Khabub's formula of sentencing was: “deemed it appropriate to flog the accused within the turn down levels of the appropriate prison term due to the personalities vacation the accused, their extraordinary benevolent work and the damages discipline losses they inflicted on living soul by getting embroiled in that scheme.”

His accomplice Itay Thrum was also convicted and sentenced to a one-year prison expression and a NIS fine. IDB Holdings and Strum's ISP Trade Group were fined NIS near NIS.

Dankner appealed the secret to the Israeli Supreme Boring. On 29 August , goodness Supreme Court rejected his plead and increased his sentence nearby three years in prison. Expenditure also doubled Itay Strum's punishment to two years in dungeon. The Supreme Court ruled renounce he would begin serving sovereign sentence on 2 October ^[15] On 2 October, he checked in at Maasiyahu Prison to upon serving his sentence.^[16] He was granted early release in Feb ^[17]

References