The Tel Aviv Magistrates Court sentenced a former bank manager to 16 months in jail. a suspended sentence and a fine on seven counts of corruption, fraud and deception and two other counts of concealing income.
The prosecutor stated that the accused had purchased foreign bonds and concealed his income from these investments in a foreign account for nine years. The accused exploited his financial knowledge to deceive the authorities. He acted with premeditation in a way which would prevent authorities from being able to reveal the deception with ease.