Nochi Dankner

About Nochi Dankner

Birth Day: November 13, 1954
Birth Place: Israel
Birth Sign: Sagittarius
Known for: Convicted in Securities Fraud

Nochi Dankner Net Worth

Nochi Dankner was bornon November 13, 1954 in Israel. Major shareholder and chairman of publicly traded IDB Group, Israel's largest diversified business group with assets of more than $30 billion, including interests in in insurance, biotech and finance. Dankner founded the Ganden Group, which holds the controlling interest of IDB. Has served as director and vice chairman of Bank Hapoalim, one of Israel's largest banks.
Nochi Dankner is a member of Diversified

💰 Net worth: $1 Billion

Some Nochi Dankner images

Biography/Timeline

2011

In 2011, Dankner sold the Israeli agrochemicals manufacturer Makhteshim Agan to China National Agrochemical Corporation, a subsidiary of China National Chemical Corporation (ChemChina). Prime Minister Benjamin Netanyahu described the deal as "a big achievement for the economy of Israel." That year he was ranked eleventh in Forbes Magazine’s list of wealthy Israelis.

2012

After some bad Business deals made by Dankner, including investment in failed Las Vegas hotel and residential project, collapsed Maariv newspaper deal, IDB, which was a public company at the time sustained millions of dollars losses. Dankner tried to save the control of the company and hired Itay Strum, broker Adi Sheleg and some others to buy and sell IDB stock, causing inflation of prices during public offering in February 2012. The intention was to raise capital for the company. Itay Sturm received eight million shekels from Nochi Dankner in order to buy and sell. Strum and his colleagues bought stock at higher prices, while they knew it was worth much less in order to manipulate traders to buy IDB stock at inflated prices. This raises the stock’s price beyond its real one, which is illegal stock manipulation by law.

2016

Nochi Dankner was sentenced to a two years in prison, as well as 800000 NIS fine by Tel Aviv District Court judge Khaled Khabub on 6 December 2016. In addition Dankner received a suspended sentence of an additional year. Tel Aviv District Attorney’s Office had asked for a three- to five-year prison sentence. Judge Khabub formula of sentencing was: “deemed it appropriate to punish the accused within the lower levels of the appropriate punishment due to the personalities of the accused, their extraordinary philanthropic work and the damages and losses they inflicted on themselves by getting embroiled in this scheme.”