Former Israeli Finance Minister Moshe Kahlon was convicted Sunday for securities-reporting offenses committed as chairman of Unet Credit. The conviction follows a plea bargain regarding his failure to inform the board of financial irregularities discovered in 2022.
Unet Credit, a non-banking credit services firm, was formerly traded on the Tel Aviv Stock Exchange. Shares were frozen following an investigation into the concealment and misuse of public funds.
The plea agreement remains subject to court approval and includes a suspended prison sentence and a fine. Kahlon is banned from serving as a public company officer for 18 months. The State Attorney's Office stated the conviction reinforces the legal responsibility to protect investor interests.