Boaz Yona, CEO of collapsed Heftsiba was arrested Thursday

Yona fled the country three weeks ago, hours before news of the collapse of his real estate development company reached the public and investors. An international arrest warrant was issued two weeks ago, when sufficient evidence to indict him for embezzlement and fraud had been collected. An independent audit of Heftsiba found NIS 70 million had been transferred to private companies in the group since March and may have been moved to overseas accounts. The report also found that Yona had dealings with entities on the grey market.