A leading pro-Israel congressman hosted a business meeting in his offices between Israeli officials and a defense contractor in which he had profitably invested.
Rep. Gary Ackerman (D-N.Y.), the chairman of the U.S. House of Representatives Middle East subcommittee, told the New York Daily News, which published the revelation Monday, that he did not profit in any way from the meeting between Alan Magerman, the founder of Xenonics, and two Israeli officials.
Magerman tried to sell the Israelis on the NightHunter, a high-powered flashlight, but they demurred, the newspaper said. Business meetings benefiting involved lawmakers are banned under congressional rules.
Ackerman had invested $14,000 in Xenonics in 2002 and cashed out $100,000 in 2005 and 2006.
It’s not clear from the Daily News story when the meeting took place and whether it was held after Ackerman had ended his investment in the firm.
Ackerman made the 2002 investment with a loan from a friend and Selig Zises, who owns the largest stake in New York-based Xenonics. He repaid the loan in 2004 at 6 percent interest.
