The younger brother of former president and convicted rapist Moshe Katsav, was arrested Monday on suspicion of laundering nearly half a billion shekels for criminal organizations.
Yoram Katsav was arrested on suspicion of distributing fictitious invoices, as part of a widespread investigation into a series of criminal offenses, including money laundering and financing of extensive criminal activities, which saw 21 other suspects arrested.
Among those being investigated are suspect with a criminal past, including owners of construction firms and car rental companies - some of whom were slapped with charges pertaining to extortion by threats, receiving anything fraudulently and false use of corporate documents.
Police added that the Lahav 433 economic unit police raided dozens of homes, businesses, money changers and contracting companies across the country, and seized property with an estimated value of tens of millions of shekels.
The arrest operation
(Video: Israel Police)
According to the investigation, criminal elements took over several businesses using extortion and threats, and used the business owners' invoices as cover for the transfer of illegal funds.
Katsav's lawyers, Amit Hadad, Eli Perry and Avi Albo, said that "our client was questioned in a wide-ranging case, which he has nothing to do with”.
“Of all those involved, our client was the only one in whose case the request for detention was denied … We welcome the fact that already at this initial stage the court understood that our client is not connected to said suspicions.”
His older brother, Moshe, was freed six years ago after serving five years and 15 days out of his seven-year sentence for rape and indecent acts.
Katsav held a series of cabinet posts before parliament selected him to be president in 2000. The allegations against him forced him to resign in 2007, two weeks before his term was to end, paving the way for Nobel Prize Laureate Shimon Peres to assume the presidency.