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Wednesday, November 14, 2007

Chabad Youth Organization director arrested

Police are probing allegations of embezzlement and money laundering at the NPO.
Noam Sharvit 14 Nov 07 20:04
Officers from Israel Police Central Region Fraud Unit and Israel Tax Authority investigators have arrested the director of Chabad Youth Organization in Israel, Rabbi Yosef Yitzchak Ahronov, the nonprofit organization's (NPO) accountant, and one of its authorized signatories, on suspicion of embezzlement amounting to tens of millions shekels and tax fraud running into hundreds of millions of shekels. The four men are suspected of theft, fraudulent receiving, and money laundering, in which leading businessmen are also thought to be involved.
Ahronov was arrested this morning on return from a fund raising campaign abroad, as detectives raided the NPO's offices in Kfar Chabad. At web posting, the four men were due to appear at the Ramla Magistrates Court for a remand hearing.

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