Ex-bank Official Etti Alon Sentenced to 17 Years

Etti Alon, the former Trade Bank official convicted of having embezzled NIS 254 million shekels in bank and customer funds in order to help repay her brother's gambling debts, was sentenced Tuesday to 17 years imprisonment and a NIS 5 million fine.

The Tel Aviv District Court also sentenced Alon's father, Avigdor Maximov, to six years in jail and a NIS 1 million fine.

Alon, who served as deputy investments manager of the bank's Tel Aviv branch, was also convicted of conspiracy, fraud, and forgery.

The theft took place over a period of five years, at the end of which she turned herself in to police fraud investigators, cooperating with detectives and confessing to the theft.

Her brother, Ofer Maximov, is currently on trial. He reportedly told investigators that when Alon gave him the money to repay gambling losses, he was unaware that it was stolen.