A top Israeli drone manufacturer is the subject of a police investigation over alleged violation of business practices, the Israel Police revealed Tuesday.
The International Crime Investigations Unit is looking into Aeronautics Ltd, which develops, manufactures and markets unmanned airborne systems and electro-optic and communications systems, regarding its dealings with a "significant client."
The nature of the investigation has been placed under a gag order.
Yavne-based Aeronautics was founded in 1997 by Zvika Nave, Moshe Caspi and Avi Leumi.
Earlier this year, the Defense Ministry suspended some of Aeronautics' export licenses to one of its clients abroad.
Israeli media later identified the client as Azerbaijan, saying the contract was worth $20 million.
A statement by Aeronautics said the company "is cooperating with the investigation in full and will do its utmost to ensure the investigation will be as short as possible."
News of the investigations sent Aeronautics shares tumbling as much as 30% Tuesday.
Aeronautics CEO Amos Matan said business was proceeding as usual globally and that he would share more details on the investigation when he was able to do so.