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GlobesEnglishISAarrestsIECmanagersinSiemensbriberyaffair

ISA arrests IEC managers in Siemens

bribery affair

28/12/2014, 16:45

Globes' correspondent

The Israel Securities Authority has made further arrests in connection with suspected
bribery at Israel Electric Corporation.
The gag order barring reports that the Israel Securities Authority has detained for
questioning additional senior Israel Electric Corporation (IEC) (TASE: ELEC.B22) officers in
the Siemens bribery affair was lifted today. Among those detained are Yakov Hain, until a
few days ago deputy CEO of the company, and former deputy CEO David Kohn, who left the
company in 2004. A gag order still applies to other particulars of the affair.
While former District Court Judge Dan Cohen is serving a six-year sentence, after admitting
that he took a NIS 4 million bribe from Siemens for steering very large-scale IEC tenders, in
recent months the authorities have continued their efforts to identify and prosecute
additional parties suspected of receiving millions of shekels in bribes from Siemens.
In June, it was permitted to report that the Securities Authority and the police were
questioning under caution four businessmen and former public servants at IEC suspected
of receiving or being involved in transferring $16 million in bribes from Siemens.
The four men are former Siemens Israel energy and industry division manager Oren
Aharonson, who later became CEO of the company in Israel, and who was a state's witness
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GlobesEnglishISAarrestsIECmanagersinSiemensbriberyaffair

against Dan Cohen; Oakfield Ltd. owner Shlomo Daniel, Aharonson's brother-in-law; forex
trader Anton Mitchell Dalin, who has been an associate of Aharonson for years; and Haim
Bar-Nir, until recently IEC business development - production manager and IEC deputy
planning manager during the relevant period.
The four men are suspected of taking $16 million in bribes. It is suspected that the bribes
were given by Siemens and transferred by Aharonson through Daniel and other to Bar-Nir
and Dalin using various overseas accounts.
IEC said in response to the report, "Israel Electric Corporation will assist all the enforcement
agencies to uncover the truth in whatever is required. The events in the Siemens affair
occurred more than a decade ago, a long time before current chairman Yiftah Ron-Tal and
CEONasdaqJan
Eli Glickman
were appointed.
chairman,
CEO, directors
S&P500Jan
TABluetJan The
TA25Jan117:24
USD/EURJan
NIS/EUR and management are
303:08

223:05

117:24

0.21%1461.97

300:36

301:05

0.2%4726.81
0.03%2058.2
+0.23%322.07 and will assist
0.04%1.1997
acting
with maximum
transparency
as much+0.1%4.7237
as is required to reach the truth.

We also stress that the company's management has a policy of zero tolerance for
corruption and does all in its power to maintain transparency and proper corporate
governance."
Published by Globes [online], Israel business news - www.globes-online.com - on December 28,
2014
Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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