Monday, December 7, the district court in tel Aviv sentenced Rico Shirazi, the head of the known criminal groups to eight years in prison and fined one million shekels.
On 2 November, a district in tel Aviv convicted criminal authority Rico Shirazi in tax offences and money laundering in the amount of 25 million NIS.
The court acquitted Shirazi on charges of threats to a state witness in the case and address of the person from whom he took loans. The verdict will be announced at a later date.
In November 2011 the Prosecutor’s office and the Tax office has charged Rico Shirazi. He was accused of threats, blackmail, money laundering, conspiracy and filing false financial reports.
In addition, the indictment cited the words of Rico Shirazi, openly threatened with punishment state witness and his family.
According to the prosecution, Shirazi was granted loans at high interest rates.
The money he laundered through a dummy Corporation to evade paying taxes. In particular, the debtors have received fake receipts on payments, Shirazi translated, and submitted reports to the IRS, representing those payments as expenses.
If debtors could not return the money on time, Shirazi took away their different possessions, including expensive cars.
In may 2015 Shirazi was arrested in the investigation of the case, called «case 512».