An arrest warrant has been issued for Inbal Or, the former residential real estate developer whose empire collapsed last year. Tel Aviv District Court Judge Eitan Orenstein issued the order yesterday, requiring that Or be brought to court within 24 hours after she is apprehended.
- Inbal Or and Israel's No-holds-barred Property Market
- Israeli Court Orders Developer Inbal Or's Property Businesses Into Liquidation
The warrant comes after Or failed to show up in court on Sunday on four requests filed by the receiver in her case, Eitan Erez, seeking to have her held in contempt of court. The hearing had been postponed from last week after she failed to appear but sent a doctor’s letter stating that she was ill. Erez told the court that Inbal had “gone underground.”
Or’s residential real estate businesses, including her major firm, Or City Real Estate, was ordered liquidated a year ago following her arrest in February 2016 on suspicion that she had evaded payment of taxes through the use of fictitious invoices. There was no way the businesses could be put back on their feet and “it would not be right to leave management in her hands,” Orenstein stated in ordering the dissolution, noting that work had been stopped on projects, contracts had been canceled and the concern that Or would abscond with company assets.
Or recently wrote a Facebook post in which she said she was starting afresh, “forgetting about everything and throwing yesterday away.” She then wrote another post in which she announced she had opened “the first real estate college of its kind in Israel,” where she would teach “how to make the first million without your own capital and a lot of other things from my experience in the world of real estate.” The cost of an eight-session course, she said, would be about 8,500 shekels ($2,300).