Vice President of the Haifa District Court, Judge Ilan Schiff, today (Monday) convicted a 40-yr.-old attorney from Baka El Gharbiya in the defrauding of two Egyptian government banks in the amount of NIS 21 million. This was connected into their claim of owning shares in the King David Hotel.
The banks that were defrauded are listed as Al Akari Masri al Arabi Bank, and Bank Metzer. Both are government banks, and located in Cairo. The attorney is alleged to have asked the banks to handle the stock rights with the corporation that owns the King David Hotel, which were allegedly being held by them.