An Israeli police fraud squad in mid-February detained four current and former employees of Solel Boneh Overseas, an affiliate of Shikun & Binui Holdings Ltd., for questioning on suspicion of bribing a public servant, falsifying corporate documents, fraud, and money laundering on projects in Africa. Under Israeli law, a foreign bribe carries the same penalties as a domestic bribe of a public official.
According to the newspaper Haaretz: “It seems at this stage to be one of the most egregious corruption cases involving a publicly-traded Israeli company . . . especially as the company is controlled by billionaire Shari Arison, who also controls Bank Hapoalim.”