November 27, 2012 / 10:30 AM / 5 years ago

Chairman of Israel's IDB quizzed on suspicion of fraud

JERUSALEM, Nov 27 (Reuters) - Nochi Dankner, the chairman of Israeli conglomerate IDB Group, has been questioned by the country's financial markets regulator on suspicion of securities fraud, IDB said on Tuesday.

"The chairman of the company yesterday was questioned and released under restrictive conditions under suspicion of securities fraud and other offences related to the issue of shares and warrants carried out by the company on Feb. 23, 2012," IDB said in a statement to the Tel Aviv Stock Exchange.

It did not provide further details.

In February, IDB sold 321 million shekels ($83 million) of shares and warrants, including 62 million shekels worth to controlling and major shareholders.

Dankner in a separate statement said he respected the investigation and had full trust in the regulator, Israel's Securities Authority (ISA).

"I am confident it will quickly become clear that all my actions on every matter were and always are legal," he said.

IDB is one of Israel's largest holding companies and its various units hold key stakes in Cellcom, Israel's largest mobile phone operator, Super-Sol, the country's biggest supermarket chain, and real estate developer Property & Building.

Its Koor Industries subsidiary owns 2.4 percent of Credit Suisse and 40 percent of MA Industries, the world's biggest maker of generic crop protection products.

$1 = 3.85 shekels Reporting by Steven Scheer; Editing by Mark Potter

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