Israeli tax authorities have acknowledged a raid on the management offices of the Maccabi Tel Aviv basketball team. The team, known as מ.כ. מכבי אלקטרה תל-אביב in Hebrew is a professional basketball team based in Tel Aviv, playing in the Israeli and European basketball First league. It is the basketball division of the Maccabi Tel Aviv sports club. The team is considered elite, having won the European Cup 5 times since 1977.
The Israel Tax Authority was careful to stress that the raid is not considered a criminal investigation at this time and the police are not involved. However, according to an Israel News report from YNET, the ITA has announced that it will be conducting an investigation related to tax evasion and money laundering charges.
There are allegations that Maccabi’s former vice president, Moni Fanan, had been “investing” the salaries of various players but was unable to account for the funds. Speculation is that he owed more than $20 million at his death. Fanan hanged himself at his apartment last week.
The current Maccabi Chairman, Shimon Mizrahi, has publicly stressed that Fanan’s activities are not connected with the team.
Wow that is intense