Welfare and Social Services Minister Haim Katz was questioned by the Israel Securities Authority under an official warning, over suspicions he illegally used internal government information to engage in illegal insider trading.

The questioning of the Likud minister was approved personally by the Attorney General, after investigators handed over evidence from their initial probe indicating breaches of the law by Katz.

The Israel Securities Authority suspects that Katz abused his position by making use of insider information to secure a lucrative business deal. Specifically, he allegedly made 290,000 NIS by engaging in insider trading, purchasing shares in the Nitsba Holdings company immediately prior to an official announcement of a merger with Airport City.

Katz’s adviser Mordechai Ben-Aryeh has already been arrested over the case, and Israeli businessman Kobi Maimon has also been questioned.

Katz was released after three hours of questioning. The investigation continues.