The Israel Securities Authority has commenced an investment of businessman Itschak Shrem and the publicly traded company he controls,

Shrem, Fudim, Kelner (TASE:

SFK

).

Shrem allegedly had SFK pay about $500,000 to kill charges filed in Florida by alligator hunters against his privately held company, Shlomy Golovinski of

Yedioth Ahronoth

writes.

The privately held company is co-owned by Shrem and his erstwhile partner, Aharon Dovrat,

Yedioth

reports.

The ISA suspects that Shrem misused SFK's money to quash a personal suit against him, without receiving permission from the company's assembly of shareholders.