Business Services Industry
Bankers involved in scandal sent to prison. (Mordecai Einhorn, Raphael Recanati, Eliahu Cohen, Giora Gazit, Aharon Meir, Udi Recanati)
Israel Business Today, April, 1994
Three former banking officials found guilty of wrongdoing in the October 1983 bank shares collapse have been sentenced to prison terms. Mordecai Einhorn, chief operations officer for Bank Leumi at the time. and Raphael Recanati, former Chairman of Israel Discount Bank, were sentenced to eight months imprisonment, while Eliahu Cohen, Discount's former deputy chairman, was given a six month sentence.
Giora Gazit, former managing director of Bank Hapoalim, received a three-month sentence commuted to community service. Aharon Meir, managing director of United Mizrahi Bank at the time of the collapse, and Udi Recanati, who headed Discount's stock market operations, were not given prison sentences.
Raphael Recanati, Einhorn and Meir were fined NIS 600,000...
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