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Last update - 13:05 17/06/2008 Top Bank Leumi executive suspected of embezzling NIS 25M By Roni Singer-Heruti, Tal Levy, and Haaretz Service Tags: Miki Friedman, Bank Leumi  Police on Tuesday arrested a Bank Leumi executive and 13 senior businessmen who are suspected of colluding in a fraud and embezzlement scheme worth millions of shekels. Miki Friedman, who is currently Bank Leumi's manager of its operations in Britain, is alleged to have approved loans worth NIS 25 million ($7.5 million) to various businessmen on the basis of fictitious bank statements and without requiring collateral or a guarantor, as is mandated by bank regulations. The alleged offenses occurred during Friedman's tenure as the chief of Bank Leumi's central branch from 2005 to 2007. Advertisement Police also suspect that the chief executive officer of a furniture company acted as a middleman in deals with other businessmen, and that he received commission on those deals. Investigators are attempting to ascertain whether Friedman received bribes in exchange for authorizing the loans. Police are expected to request the courts extend the remand of the suspects. Related articles: Bank Leumi in talks with Elco over purchase of 20% of Electra Consumer Products Leumi outdid Hapoalim in 2007 with NIS 3.3 billion net profit Phishers steal Bank Leumi client info Bookmark to del.icio.us   Nazi hunted Nazi sheltered by Austria seen enjoying Euro 2008 games. Battle of the attitude An 'Israeli au pair' seems to be the ultimate oxymoron.   1.   Is this where Gaydamak`s billions went? 11:43  |  The Archives 17/06/08   2.   NIS 25 MILLION IS JUST 12:23  |  Robert 17/06/08   3.   Now he qualifies to join Shas 13:43  |  concerned citizen 17/06/08   4.   ARCHIVES Where is Dr Makhtiars money from? How is Bumiputra? 13:59  |  PETER SM 17/06/08   5.   ARCHIVES If this man is guilty he will go jail.Makhtiar and 14:42  |  PETER SM 17/06/08   6.   Top Bank Leumi executive suspected of embezzling NIS 25M 15:08  |  Esther 17/06/08

Read & React UN envoy: Israel has given Syria a 'huge gift' for free Responses: 95 Nazi sheltered by Austria as too ill for trial, seen enjoying Euro 2008 Responses: 63 Israeli sources: Hezbollah deal possible next week Responses: 42 UN official who compared Israel to Nazis turns spotlight on Palestinians Responses: 34 U.S. official: PA security forces fighting terror in West Bank Responses: 30 Rosner's Domain Dovish Jewish lobby endorses seven candidates Obama, McCain aides agree: Israel, U.S. must discuss strike on Iran New Guests: What young Jewish American want World: U.S policy "will change for the better" (WTR) Poll: When should Israel have elections? More Headlines 15:11 At least 5 killed in IAF strike on south Gaza 15:13 Hamas: Gaza truce Thursday 'barring unforeseen developments' 13:19 Israeli sources: Deal with Hezbollah likely next week 12:15 Report: U.S. urges Israeli pullout from disputed Golan area 13:06 Israel Police arrest settlers for assault on Palestinian farmers 12:54 Bowing to religious pressure, Tel Aviv supermarket chain agrees gradual Shabbat closure 14:47 EU unanimously upgrades Israel ties, turning aside PA objections 14:43 Turkish FM: Israel, Syria 'very satisfied' with latest talks 15:02 Fatah delegation visits Gaza for first time since Hamas takeover 13:30 Report: Wanted Nazi war criminal says 'can appear before any court' 14:58 Valentine Vester, owner of famed American Colony hotel in J'lem, dies at 96 15:10 Dollar plummets 2.8 percent, trading at NIS 3.338 Previous Editions Select Day 16 jun 15 jun 13 jun 12 jun 11 jun 10 jun 09 jun 08 jun 06 jun 05 jun 04 jun 03 jun

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