UK stockbroker Nicholas Levine has denied that he ever had business dealings with Maccabi Tel Aviv's former manager Moni Fanan who committed suicide last week. The UK press reported that Levine had disappeared with ₤12 million of Fanan's money.
Levine said, "I have never met him and there was never any connection between us."
Levine, who owns a $5 million villa in Herzliya and owes money to many in Israel's sporting world, is currently being questioned by the Metropolitan Police's Serious Fraud Squad in Britain regarding the disappearance of millions of pounds of investor's money.
Meanwhile, Israel's tax authority today came to the offices of the Maccabi Tel Aviv basketball club to begin their investigations into Fanan's dealings. Fanan reportedly acted as an investment bank for basketball players, and possibly others in the sport including referees, who wanted to earn high rates of return.
Published by Globes [online], Israel business news - www.globes-online.com - on October 25, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009