Show me an example Israel Real Estate News: The lesson is, "buyer beware"

Sunday, August 19, 2007

The lesson is, "buyer beware"

The police issued an arrest warrant for Boaz Yona, Heftsiba owner and CEO, on suspicion of committing severe offenses: fraud, money laundering, breaking the securities and real estate laws and pocketing the money of people who purchased apartments. The banks also knew that the Hadera project was stuck, and they heard on the news that the purchasers were squatting in the apartments. Why didn't they rush to request a court order forbidding Yona from leaving Israel? Now it will be much harder for them to collect the large debt.