Police: Former Bank Poalei Agudat Israel branch manager Aharon Kaplan granted NIS 25 million in credit without collateral or coverage. Defense attorney: The bank was aware of his actions.
The Tel Aviv district police fraud unit today arrested former Bank Poalei Agudat Israel branch manager Aharon Kaplan. He is suspected of accepting bribes from scores of customers in exchange for granting an aggregate NIS 25 million in credit without collateral or coverage, while he served as manager of the bank's main branch in Tel Aviv. The police told the Tel Aviv Magistrates Court that grey market wheeler-dealers allegedly mediated between Kaplan and the customers.
Kaplan arrived in Israel this morning after two years residency in the UK to surrender in the presence of his attorney. He managed Bank Poalei Agudat Israel Tel Aviv branch in 1994-2001. The police allege that the illegal transactions occurring during 2000-01.
Bank Poalei Agudat Israel, owned by First International Bank of Israel (TASE:FTIN1; FTIN5), stated that it has already made allowances in full for these debts and Kaplan's arrest would have no effect on the bank.
Published by Globes [online] - www.globes.co.il - on November 25, 2003