Israel business magnate linked to trade with Iran found dead

Jun 3, 2011, 7:40 GMT

Tel Aviv - Israeli business magnate Sammy Ofer, whose company, Ofer Holdings Group, is currently at the centre of a controversy over alleged trade with Iran, was found dead in his Tel Aviv apartment Friday morning, Israeli media reported.

He was 89-years-old.

On May 24, the US State Department listed Ofer Holdings Group among seven companies facing sanctions for dealing with Iran. The State Department said the group was the parent company of Tanker Pacific, which is also on the list.

Ofer Holdings said it 'did not have any business, administrative or controlling relationship' with Tanker Pacific, but further reports in the Israeli media said that ships linked - whether accurately or not - to Ofer Holdings Group had docked in Iran.

The accusation of an Israeli company doing business with Iran, even indirectly, caused a storm in Israel, which has been loud in its demands for sanctions to be imposed on Tehran because of its nuclear programme.

Ofer Holdings Group is one of Israel's largest privately-owned businesses. It owns and operates a large maritime fleet and has interests in the property, banking and high tech sectors.

Sammy Ofer was born in Romania in 1922, and immigrated with his family to pre-Israel Palestine two years later. He served with the Royal Navy during World War II, and in the Israel Navy in the 1948-49 Arab-Israeli war.

He became a shipping agent after his demobilization, and bought his first ship in 1950. By the time of his death, he was one of Israel's richest men, owner of a shipping empire, reportedly valued at over 3.5 billion dollars.

He is survived by his wife Aviva, two sons, Eyal and Idan, eight grandchildren, and one great-grandchild.

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