The Tel Aviv District Court sentenced businessman Nochi Dankner to two years in prison on Monday for rigging the price of his company's shares. The court also fined him 800,000 shekels ($210,500, 197,000 Euros) and gave him an additional 12-month suspended sentence. Dankner's lawyer will appeal.
Once considered among Israel's most powerful businessmen, Dankner was convicted in July of seeking to inflate the value of a 2013 stock
offering in his IDB Holding Corporation by having friends, relatives and associates buy the shares at high prices. One of his associates was sentenced to a year in prison as an accomplice. Dankner was ousted from control of IDB by shareholders in 2013.