Businessman Detained as Part of Beny Steinmetz Probe Named as Shimon Menachem

Menachem, formerly of Scorpio BSG Ltd, was detained Thursday at Ben-Gurion Airport

Send in e-mailSend in e-mail
Israeli businessman Beny Steinmetz waits at a Rishon Letzion courtroom following his arrest on August 14, 2017.
Israeli businessman Beny Steinmetz waits at a Rishon Letzion courtroom following his arrest on August 14, 2017.Credit: Ilan Assayag

Businessman Shimon Menahem, the former head of the Scorpio real estate division of Scorpio BSG Ltd., has been identified as the business executive who was detained upon arrival at Ben-Gurion International Airport on Thursday. He was then released to five days of house arrest on Friday.

Scorpio, a real estate development company, is part of the business empire of Beny Steinmetz, who is facing a criminal investigation in Israel.

Steinmetz and another associate, strategic consultant Tal Silberstein, are suspected of bribing a foreign official, forging documents, engaging in corporate fraud and breach of trust, and money laundering. They were detained the week before last and were later released to two weeks of house arrest. Shimon Menahem, a former professional soccer player, is married to Shelly Steinmetz, Beny Steinmetz’s niece.

In April, the New York Times reported that Raz Steinmetz – Beny Steinmetz’s nephew -- is a partner in the Kushner Companies, the family real estate firm that had been run by Jared Kushner, President Donald Trump’s son-in-law, until Kushner was appointed senior adviser to the president. There are no known business ties today between Raz Steinmetz and Beny Steinmetz.

In 2008, Shimon Menahem earned record compensation at Scorpio of 72.9 million shekels ($20.3 million at current exchange rates) in share options that he converted to company stock. Scorpio was active in Eastern Europe's real estate sector, particularly Romania and Russia. Menahem was also reportedly involved in the purchase of a 67 percent stake in Greece's largest real estate investment fund.

Click the alert icon to follow topics:



Automatic approval of subscriber comments.
From $1 for the first month

Already signed up? LOG IN


The Orion nebula, photographed in 2009 by the Spitzer Telescope.

What if the Big Bang Never Actually Happened?

Relatives mourn during the funeral of four teenage Palestinians from the Nijm family killed by an errant rocket in Jabalya in the northern Gaza Strip, August 7.

Why Palestinian Islamic Jihad Rockets Kill So Many Palestinians

בן גוריון

'Strangers in My House': Letters Expelled Palestinian Sent Ben-Gurion in 1948, Revealed


AIPAC vs. American Jews: The Toxic Victories of the 'pro-Israel' Lobby

Bosnian Foreign Minister Bisera Turkovic speaks during a press conference in Sarajevo, Bosnia in May.

‘This Is Crazy’: Israeli Embassy Memo Stirs Political Storm in the Balkans

Hamas militants take part in a military parade in Gaza.

Israel Rewards Hamas for Its Restraint During Gaza Op