כניסה

Update for the public with respect to the opening of a criminal investigation regarding Michael Ben-Ari and EFGE Israel
 
 

May, 5th 2021

 

Following numerous inquiries from investors, the Israel Securities Authority (ISA) wish to update the public that it has recently opened a criminal investigation regarding Michael Ben-Ari and EGFE Israel, on suspicion of violating the Israeli Joint Investment Trust Law, Regulation of Investment Advice, Investment Marketing and Portfolio Management Law, the Penal law and the Prohibition on Money laundering Law.

As part of this investigation, Ben-Ari was released by the Tel Aviv Magistrate Court under restrictive conditions.

The ISA works tirelessly to protect the investing public interests, and to uncover the truth as quickly as possible. According to law, the ISA is bound by secrecy obligations and therefore cannot offer any information regarding an ongoing investigation.

The ISA emphasizes that no restriction has been imposed on Ben-Ari and/or EGFE's employees which prevents them from being in contact with their investors, except for any discussion regarding the matters of the investigation that are prohibited by law.

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