Menu JTA Search

Fugitive real-estate magnate extradited

SIGN UP FOR THE JTA DAILY BRIEFING

Italy extradited a fugitive Israeli real-estate magnate suspected of bilking hundreds of would-be homeowners.

Boaz Yona, the former CEO of the now defunct realty conglomerate Heftsiba, was flown out of Verona under police guard to Tel Aviv on Monday after losing a legal battle against Israel’s bid to repatriate him for questioning and possible prosecution.

Yona fled the country last year as it emerged that Heftsiba was collapsing under massive mismanagement, leaving homes with price tags amounting to some $300 million unfinished.

In statements to the media, Yona has denied wrongdoing.

Israeli police say he will be kept protected for fear of revenge attacks by Heftsiba clients who found themselves homeless when the company went bankrupt.

NEXT STORY