The general managers of Africa-Israel and Migdal are
suspected of offences against the Banking Law. Levy: I am
not aware of any such recommendation.
The National Fraud Squad recommends that an
indictment be brought against Shlomo Grofman, GM of
Africa Israel, and against Uzi Levy, GM of the Migdal
insurance company, in respect of prima facie violations
of the Banking (Licensing) Law, in the affair of Migdal's
take-over of Ellern. The summarising investigation
report was forwarded to the Tel-Aviv District Attorney's
Office (taxation and economics department), and its
recommendations await the District Attorney's
decision.
It is suspected that Africa-Israel financed the deal
for the acquisition of the Ellern investment company,
thereby committing a prima facie offence against the
Banking Law. Grofman was questioned under caution in
this matter, while Levy was questioned under caution,
arrested and released on bail.
Levy stated that nobody had told him the investigation
was over, and therefore, for obvious reasons, he could
comment. No comment was to be had from Grofman.