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April 5, 2011 1:02 pm

Israel Bonds Supports Investigation

avatar by Maxine Dovere

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Israeli Prime Minister Benjamin Netanyahu.

In a pointed editorial, Haaretz discussed Prime Minister Benjamin Netanyahu’s travels during his term as Finance Minister, specifically questioning those funded, in part, by the Israel Bonds organization.  The editor contends that Israel’s position in world financial markets “renders the organization superfluous, claiming that Israel Bonds’ fundraising cost is more expensive than simply raising capital in the international capital markets.”

From its New York headquarters, a spokesman for Israel Bonds said the comments critical of Prime Minister Netanyahu’s relationship with Israel Bonds,  published in a statement in Haaretz,  is part of “an aggressive, politically motivated media campaign” attacking Prime Minister Netanyahu “for alleged improprieties” during his term as Finance Minister.  The State Comptroller has responded to a Knesset request and is now investigating the matter.

The Bonds spokesman noted that “the allegations concern Netanyahu’s overseas travel and accommodations in conjunction with a series of speaking engagements in the U.S. and Europe.  These engagements were made on behalf of several organizations, including Israel Bonds, which, like the other organizations, paid for a portion of his travel. This is customary and routine when Israeli dignitaries are asked to speak for Bonds and other organizations.”

Israel Bonds states that it has “examined all records pertaining to this period.  Nothing improper was done by our organization. Every transaction was valid and above board and we intend to cooperate fully with the impending investigation.”

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