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Last update - 08:17 21/07/2008 Police quiz businessman over unpaid $75,000 loan to Olmert By Tomer Zarchin, Haaretz Correspondent Tags: Joe Elmaleh, Israel  Investigators from the national fraud squad have questioned Israeli-American businessman Joe Elmaleh in connection with a loan he gave Prime Minister Ehud Olmert in 1993, which has still remained unpaid. Investigators plan to ask Olmert in the future to explain the nature of the loan and the reason why he has not paid it back. The State Prosecutor's Office plans to broaden the investigation into this matter, and to examine the relationship between Olmert and Elmaleh. Advertisement As published in last week's Haaretz Magazine, Olmert borrowed $75,000 from Elmaleh in 1993, while he served as an MK on behalf of the opposition, and a short while before he was elected Jerusalem's mayor. When asked about the loan during his interview with police investigators on May 23, Olmert claimed the date for repayment had not passed, thus confirming that he has not yet begun paying Elmaleh back - even though 15 years have passed. In 2003, at a time when he served as minister of industry and trade, Olmert filed a declaration of assets with the State Comptroller's Office, in which he included the loan from Elmaleh. When the state comptroller at the time, Eliezer Goldberg, asked Olmert why he had not repaid it, Olmert said he intended to do so. In July 2004 Olmert signed a document promising Goldberg to repay the loan at a later date, and the matter was not brought before the attorney general for consideration. The document stated that Olmert promised to repay the loan by January 1, 2009. Before taking the loan from Elmaleh, Olmert was a board member on Yoel, one of Elmaleh's companies, which was involved in oil exploration. Even though the drilling did not result in any oil strikes, the board approved millions of shekels in benefits for Elmaleh. In 1996 Elmaleh stopped most of his business activities in Israel, sold Yoel and moved to the United States where he has mostly dealt in real estate. However, his ties to Olmert remained close and they continued to meet when Olmert was in New York or Elmaleh visited Israel. Elmaleh admitted to acquiring 15 pieces of art by Olmert's wife, Aliza, whose work he says he admires; in 2005 he was invited to a dinner hosted by the couple to celebrate the opening of an exhibition of her work. Olmert was also involved in encouraging Elmaleh to participate in the New Jerusalem Fund, which raised funds for projects in the capital. Related articles: Another Olmert probe, another American businessman, another unpaid loan VIDEO: What Talansky said about Olmert in his testimony Police: Olmert's testimony on Friday strengthened double-billing case Bookmark to del.icio.us   Brown's ultimatum British PM to Knesset: Iran must suspend nuclear bid or face global isolation. One giant leap VIDEO: Israeli-developed device allows paraplegics to walk again.   1.   Its Time To Indict Olmert, No more questioning 05:36  |  Living In Rishon 21/07/08   2.   Aliza`s paintings bought as art by Almaliah? 11:07  |  Nora 21/07/08   3.   Difficult for ordinary mortals to understand... 11:11  |  Esther 21/07/08   4.   The only place to get a loan is a BANK! 11:28  |  Inyaki 21/07/08   5.   This 7th investigation of Olmert-the-Crook... 11:42  |  Nora 21/07/08   6.   Eureka...! 11:50  |  Esther 21/07/08

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