Aryeh Goldin was arrested last night by the Tel Aviv district fraud squad, on suspicion of defrauding two banks of NIS 30 million and forging documents, so as to obtain money by fraud.
The squad’s spokesperson confirmed that the investigation is being led by fraud squad chief Chief Superintendent Michael Moveshevitz.
Goldin is suspected of approaching Discount Bank and Mizrahi bank, and obtaining from them letters of guarantee against moneys and collateral he provided to secure the letters of guarantee, all with a view to defrauding the banks. A short time later, Goldin forged the letters of guarantee, returning the original guarantee to the bank, thus facilitating the release of moneys and security deposited, and continued to use the forged guarantees.
Goldin was apprehended at home. He was taken into custody for twenty four hours, and questioned at the Tel Aviv district fraud department throughout the day. Based on the investigative material, the investigators decided to bring him before a judge this evening, seeking an order for his remand in custody for the purposes of the investigation.
In the past, Goldin served a lengthy prison sentence for embezzling tens of millions of dollars belonging to Clal Investments and its customers.
In the early eighties, Aryeh Goldin was the "wonder boy" of the Clal concern. He managed Clal Investments, the concern’s foreign currency investment arm. In August 1990 it transpired that Goldin had been defrauding the company and its customers. Goldin fled to England and was apprehended and extradited by Scotland Yard in October 1991. He was charged with stealing over NIS 20 million from the customers of Clal Investments. In September 1993, Goldin was convicted at the Tel Aviv District Court and sentenced to a 6.5 year prison sentence. To this, the HCJ later added another eighteen months. Goldin was released last year, but could not find any niche in the local foreign currency market.
Published by Israel's Business Arena August 26, 1998