10:27
Reported

News Briefs

  Kislev 18, 5769 , 15/12/08

Harel Loses Money in Madoff Scandal

The Israeli Insurance company Harel reported Monday that it lost 55 million dollars in the Bernard Madoff Wall Street scandal. Bernard Madoff was arrested Sunday in New York for defrauding investors of 50 billion dollars.

Harel reported that it had invested 55 million dollars in Madoff’s funds. The Insurance Company has hired legal counsel to determine if it is possible to recover some of the loss.

Other archived news briefs:Dec 15 2008, 10:27 AM, 12/15/2008