"Israel Radio" reports today that film producer Yoram Globus was arrested by the Israel Tax Authority yesterday on suspicion of not paying taxes on NIS 27 million withdrawn from his companies. He was released on NIS 1 million in bail plus another NIS 1 million in a guarantee from a third party.
Since returning to Israel in 1993, Yoram Globus has held his private company Globus Group and Globus Max Ltd. (TASE: GLBS.B1), a film distributor and cinema owner. Prior to his return, he lived in Hollywood, where he founded Cannon Group Inc., which included producer Cannon Films, a cinema chain, and a video film company which bought the international video rights to several classic film libraries. In the late 1980s, the US Securities and Exchange Commission (SEC) investigated Cannon Group and its management, but cleared them.
In 1991, Globus and a partner acquired MGM Studios, and served as its president and COO.
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