Perry to Be Sentenced for DM 320m Theft

Yisrael Perry, who was found guilty of stealing DM 320 million from insurance premiums paid by Israelis who borrowed money from him in order to meet the minimum requirements for eligibility for German pension payments, will be sentenced next week. Meanwhile, Perry notified the Tel Aviv District Court yesterday that from now on, he will allow his customers to insure their loans through any insurance company that will agree to insure them under the same terms, and that if the High Court of Justice rejects his appeal against his guilty verdict, he will also reimburse his clients for any extraneous premiums he has charged.

Perry asked the District Court to consider this step as the deciding factor in its sentencing deliberations. Following a 6-year trial, 62-year-old Perry was convicted last October.