A Tel Aviv court has sentenced Shushan Shalem to six years in prison and two years probation as part of a plea bargain. Shalem confessed to defrauding at least 25 people, including childhood friends, colleagues, and acquaintances of his brother, the entertainer Erez Shalem.
Under the terms of the plea bargain, Shalem admitted to aggravated fraud, managing investment portfolios without a license, and tax evasion on about 8 million shekels ($2.1 million US).