Migdal Insurance’s management are examining suspicions of financial irregularities at the company’s Jerusalem branch, concerning as much as NIS 2 million. The company filed a complaint with the police yesterday.
The head of collection at the Jerusalem agency, Yehiel Mandelboim, is the primary suspect. Mandelboim disappeared the day before yesterday and, as of this posting, has still not been located. Mandelboim is the son of the former Bank of Israel governor Dr. Moshe Mandelboim.
Two weeks ago, Migdal’s central inspection division discovered, during a routine check, that significant amounts were missing from the Jerusalem branch. After a review, Mandelboim, the head of collections at the branch, was called in to the head office for clarification. The meeting was to have taken place on Monday but Mandelboim did not show up. It later transpired he did not show up for work yesterday.
Yesterday, the police tried to locate Mandelboim and as part of the investigation, came to his parents house at 11 pm. This morning, Dr. Moshe Mandelboim reported to the Jerusalem police his son was missing. A search is now underway.
No comment was available from Yehiel Mandelboim’s family.