Israeli businessman Yuval Ran, who disappeared from Israel a few weeks ago, is living with his family in a villa in Houston, Texas.
Ran, despite not being in Israel, continues to serve as president of Isramco Inc., and draw a gross monthly salary of $20,000 for the position.
Isramco is listed for over-the-counter trading in New York. The company has a US branch which has been active for a number of months and is located in New York. Ran has apparently not visited those offices during his stay in the US.
Isramco recently acquired 100 oil and gas wells in Texas and Oklahoma, but there is apparently no connection between Ran’s living in Houston and that activity, which was initiated by Isramco general manager Yossi Levy. The wells were purchased for the price of $5 million, $4 million of which was provided by banks.
Isramco management could not be reached for comment on the reports.
Tel Aviv Magistrate’s Court recently appointed a temporary liquidator for Yuval Ran’s businesses, at the request of Bank Hapoalim. The bank claimed Ran had disappeared from Israel in order to evade creditors. It estimates Ran’s debts at NIS 260 million.