Word: hapoalim
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...Moshe Mandelbaum, governor of the government-run Bank of Israel, which is the country's counterpart to the U.S. Federal Reserve. The commission urged that four of the five executives be barred for life from the industry. By week's end Mandelbaum and Giora Gazit, managing director of Bank Hapoalim, had resigned...
DIED. Ya'acov Levinson, 52, former head of Israel's Bank Hapoalim, who was under police investigation for possible financial irregularities; of a self-inflicted gunshot wound; in Ramat Gan, Israel. The bank, Israel's second largest, has been accused of making questionable transfers of assets to its U.S. subsidiary, Ampal-American Israel Corp. Israeli newspapers have suggested that profits from illegal deals may have been diverted into a Labor Party slush fund. Levinson left a note proclaiming his innocence...
...image of Israeli bankers could be damaged further by a probe launched late last year by the Histadrut, Israel's major labor federation. The organization, which runs Bank Hapoalim, the nation's second largest bank, is investigating rumors about Yaacov Levinson, a prominent Labor Party member and the bank's former managing director. Levinson, according to stories that he angrily denies, shifted bank funds abroad without authorization. Last week the Israeli Attorney General joined the Bank of Israel and a parliamentary committee in looking into the charges. The so-called Levinson Affair has already deepened the loss...
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