‘Fraud’ case man’s £2.6m barmitzvah

By Leon Symons, October 10, 2008

A businessman wanted on fraud charges in America has been allowed to attend his son's barmitzvah in Israel after rabbis pledged £2m in sureties.

Zev Saltsman, who lives in Hendon, North-West London, was arrested in London a year ago after he was named as one of six men accused by US federal prosecutors in Brooklyn.

He was alleged to have made $55m (£31.5m) in fraudulent profits through private share sales. He has not admitted the allegations in the USA.

Mr Saltsman, 45, was arrested on his way to Heathrow Airport and has been fighting extradition to America.
According to the indictment, Mr Saltsman and another Israeli, 51-year-old Menachem Eitan, allegedly made millions of dollars by allegedly "short selling" the shares of two companies.

At a hearing at City of Westminster magistrates' court, District Judge Nicholas Evans was told that three rabbis, Gabriel Schleider, Israel Moskovitz and David Saurymper, were prepared to put up £2m in bail, in addition to £625,000 pledged when Mr Saltsman was first arrested, to enable him to make a one-week trip to Israel.

Mr Schleider told the court that Mr Saltsman had helped his son study for his barmitzvah during hour-long telephone calls and that Mr Saltsman's absence could have an affect on the rest of his son's life.
The judge gave permission for Mr Saltsman to attend the barmitzvah after ordering that the three rabbis pay £2m by November 5.

Mr Saltsman was ordered to appear again on November 17.

Last updated: 12:23pm, October 8 2008