Police: Lawyers cheated Egyptian banks out of NIS 14m.

January 11, 2012 10:52


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A police fraud squad arrested two Israeli Arab lawyers on suspicion of swindling Egyptian banks out of 18 million shekels.

The suspects, one from Baka al-Garabiya and the second from Jat, in the North, represented the banks in recent transactions police said.

The banks have long owned rights to a portion of Jerusalem's King David Hotel, and hired the lawyers to claim their portions, worth around 300 million shekels.

The suspects filed legal claims, and paid a four-million-shekel court processing fee with a check that later bounced.

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