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THE Supreme Court yesterday rejected the appeals of three men convicted of stock manipulation, saying their behavior was extremely destructive, and mandated serious punishment.
"The appellants damaged their customers; they damaged the public interest; they damaged the foundation of the capital market; and they damaged the public's trust in this market," wrote Justices Aharon Barak, Gavriel Bach, and Yitzhak Zamir in their verdict. "It is necessary to deter others from similar acts."
Shmuel Vaknin, Nissim Avioz, and Dov Landau owned an investment consulting firm. In 1988, they persuaded two customers to buy stock in the Agriculture Bank...