The Israel Land Development Co. Makes Announcement.TEL AVIV, Israel--(BUSINESS WIRE)--June 17, 1998--The Israel Land Development Company Ltd., ("ILDC ILDC Independent Lumber Dealers Co-operative ILDC Incremental Length Diffraction Coefficient ") (NASDAQ/NMS Symbol: ILDCY) today announced the following: Ofer Nimrodi, the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and a director of ILDC, in accordance with a plea bargain plea bargain n. in criminal procedure, a negotiation between the defendant and his attorney on one side and the prosecutor on the other, in which the defendant agrees to plead "guilty" or "no contest" to some crimes, in return for reduction of the severity of the agreement reached today, was convicted today by the Tel-Aviv-Jaffa Magistrates Court in Israel of charges relating to wiretapping A form of eavesdropping involving physical connection to the communications channels to breach the confidentiality of communications. For example, many poorly-secured buildings have unprotected telephone wiring closets where intruders may connect unauthorized wires to listen in on phone and obstruction of justice A criminal offense that involves interference, through words or actions, with the proper operations of a court or officers of the court. The integrity of the judicial system depends on the participants' acting honestly and without fear of reprisals. related to activities while serving as Chairman of the Board of Directors of the "Maariv" newspaper and the Editor in Chief of "Maariv." The terms of the plea-bargain agreement, provide for an agreed ten month suspended prison sentence and the imposition of a fine of approximately $306,000. In addition pursuant to the plea bargain agreement, the prosecution may ask the Court to impose an eight month term of actual imprisonment Imprisonment See also Isolation. Alcatraz Island former federal maximum security penitentiary, near San Francisco; “escapeproof.” [Am. Hist.: Flexner, 218] Altmark, the German prison ship in World War II. [Br. Hist. and the defense may plead that no sentence be imposed other than the agreed suspended sentence and fine. The Court is not formally bound by the terms of the plea bargain but in general under Israeli case law, usually abides by the terms of a plea bargain, unless special and exceptional circumstances exist which justify deviation from the plea bargain. The company, ILDC, itself was not a party to the proceedings. ILDC, founded in 1909, maintains a diversified portfolio of business enterprises including the publishing of a major Hebrew-language daily newspaper, other forms of commercial media, insurance, real estate development, hotels, leisure products and income properties.
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