Police detained David on suspicion of obtaining something by fraud, breach of trust, forgery, use of a forged document, and submitting a false affidavit.
Authorities searched David’s home and office, seizing documents and digital media, before releasing him under restrictive conditions.
The website notes that the company performs its projects on behalf of the Transportation Ministry, which span across the fields of public transit, traffic management, and other transportation-related projects.
As of the time of writing, David is still listed on the Rishon Lezion-headquartered company’s website as “Chairman of the Board of Directors.”
Efrat Forsher contributed to this report.