Israel: Yes boss arrested over $7m fraud
February 17, 2014
By Chris Forrester
A female senior employee of Israel’s ‘Yes’ satellite DTH broadcaster has been arrested over an alleged fraud extending back over the past 10 years. The amount involved is said to be NIS 24 million (about $7 million).
An Israeli court has held the employee (aged 38) in detention for 5 days while investigations are taking place. The allegations state that the suspect forged the signatures of authorised individuals and deposited various sums over the years into private accounts.
“The company initiated a deep and thorough investigation into the matter and turned to the police on Thursday evening with its findings so that it could act immediately to investigate the case,” Yes said in a public statement.
The alleged suspect’s lawyer, in a statement, said she was being used a scapegoat, and questioned as to why the company hadn’t noticed the missing funds over the years. The attorney said Yes was trying to hide its losses ahead of a stock issue