An indictment was issued Sunday against a stock broker at the Excellence investment brokerage on counts of stock deception, fraudulent receipt, breach of trust and moneylaundering.
The accused admitted the crimes and will serve a 21-month prison term as well as paying a 200,000 NIS fine.
The broker used the money of his clients in order to make hundreds of deals which netted him between 150,000 to 250,000 NIS in profits by artificially raising the price he paid for their shares.