The Israeli Tax Authority has announced an ongoing investigation against Waldman Leib, a Jerusalem resident, suspected of concealing millions of shekels in income from a real estate transaction. Leib allegedly brokered a deal for the purchase of land slated for a 200-apartment residential project, for which he was to receive 5 million shekels. To hide these earnings, he reportedly transferred about 1.2 million shekels to his wife's bank account in the United States and 840,000 shekels to a company that performed private construction and renovation work for him. The investigation also indicates that the remaining payment was to be made upon project completion, either in the form of an apartment or cash equivalent. The Tax Authority claims that Leib did not issue invoices or report the income. He was brought before the Jerusalem Magistrate's Court and released under restrictive conditions. The investigation is ongoing.
