In short, the claim of failure to represent is completely rejected.
- Finally, in his summary, the defendant argued that even if he is found guilty, extenuating circumstances that he detailed should be taken into account, which include: the prolongation of the proceedings for 7 years, the absence of a criminal record, the failure to give advance warning, the limited number of complainants, the absence of significant public interest, and the execution of the activity in good faith. It is clear that the defendant's arguments will be taken into account in the sentencing proceeding after the parties' arguments are laid out before me.
- The Result
- The conclusion from the aforesaid is that I decide to convict the defendant of all the offenses attributed to him in the indictment, subject to the comments made in the body of the judgment. I also reject the defendant's argument that the charges should be dismissed for the sake of protection from justice.
- Therefore, I convict the defendant of the offenses attributed to him in the indictment, as follows:
As part of the first indictment - multiple offenses of fraudulent receipt, under section 415 of the Penal Law, 5737-1977.
In the framework of the second indictment - offenses of managing cases without a license under section 2(b) combined with section 39(a)(1) of the Representation Arrangement and Investment Advice Law, investment marketing and management of investment portfolios, 5755-1995, as well as offenses of offering to provide unlicensed portfolio management services under section 3A in combination with section 39(b)(12) to the Consultation Law.
As part of the third indictment - for the offense of prohibiting an offer to trade in an unauthorized trading arena, pursuant to Section 53(b)(6)B of the Securities Law, 5725-1968.
Granted today, May 07, 2026, in the presence of the defendant and counsel for the parties.