The firm was allegedly embezzled of NIS 123 million.
The Tel Aviv District Court today sentenced Guy Vaisman to ten years in jail, two years suspended sentence, and a fine of NIS 750,000. Vaisman was deputy CEO at Harel Investment House, a subsidiary of Harel Insurance Investments and Financial Services Ltd. (TASE: HARL).
In late May, Vaisman pleaded guilty in a plea bargain to stealing NIS 9 million. He was suspected of embezzling NIS 123 million.
Vaisman was also convicted of abetting the theft of NIS 7 million and receiving tens of millions of shekels through aggravated fraud.
Published by Globes [online], Israel business news - www.globes-online.com - on July 15, 2010
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