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Tel Aviv Magistrates Court this morning announced its verdict in the Discount Investment Corporation affair, convicting all senior Discount Investment executives accused in the affair. The penalty phase will be held March 6.

In his decision the judge determines "the defendants decided to keep the reports of their three affiliates out of the company's reports submitted to the Stock Exchange with the intent to hide Iscar's results from the public.¿

"Their entire decision was a result of that goal. They did not act against the law out of a whim or some vague reason or other. They were faced with a 'dilemma' and this was their 'solution' of choice," says the judge in his 160 page verdict.

In his conviction Justice Rosen dedicates an entire chapter to each defendant, heavily criticizing Tadmor in the chapter dedicated to the former CEO of Discount Investment, saying for 15 years Tadmor was company CEO "and the person with the most pivotal role in the company."

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According to the judge, Tadmor did not "tiptoe among the droplets, but clearly took the criminal highway."