Posts Tagged ‘Yoram.Globus’

Israeli Film Mogul Charged with Tax Evasion

Wednesday, February 20th, 2013

Yoram Globus is perhaps best known for being behind Cannon Films. With his cousin Menahem Golan, Cannon produced such films as American Ninja, Superman IV, Delta Force One, and a long, long list of others in the 1980s. Now, Mr. Globus is making news a bit differently: He was accused by the Israel Tax Authority of evading tax on NIS 27 million (Israeli New Shekel), worth about $7.3 million.

The alleged tax evasion dates back to 2005. Mr. Globus supposedly withdrew the NIS 27 million from two of his companies…but the withdrawals apparently didn’t make his tax return. Oops.

Mr. Globus’ response was, according to the Los Angeles Times, “Ask my accountant.”

Mr. Globus was released on bail of NIS 1 million (about $270,000) and ordered to remain in Israel for six months.