Israel parole board refuses bank embezzler's request for early release

In February 2015, the Central District Court vetoed an early release for Alon after the prosecution opposed her early release and appealed an earlier parole board decision to let her go.

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February 17, 2016 20:33
1 minute read.
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money. (photo credit: REUTERS)

 
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The Prison Parole Board on Wednesday announced it will not grant Eti Alon’s request for immediate early release, but will push off the decision until August 4, when it will likely release her.

The board conditioned the August release on continued rehabilitation and good behavior by Alon, but noted that even the state prosecution had shifted its position to likely supporting her early release in August.

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In February 2015, the Central District Court vetoed an early release for Alon after the prosecution opposed it and appealed an earlier parole board decision to let her go.

Alon, a convicted embezzler, has served around 14 years of a 17-year sentence which would run until 2019 at maximum.

She was imprisoned in 2003 for the embezzlement of some NIS 300 million from the Trade Bank, where she had served as the deputy chief of investment.

In court, Alon had admitted to stealing sums of money for over a five-year period and said she did it to help her brother, Ofer Maximov, pay a gambling debt estimated at approximately NIS 100m., which was owed to organized crime groups.

Alon’s theft caused the Trade Bank to collapse and cost the state half a billion shekels in deposit insurance.

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Legislation was introduced in light of this case that prevents bank employees from having comparable access to funds in the future.

In December 2014, a Prisons Service parole committee provisionally decided to shorten Alon’s sentence, but finalization was postponed and then rejected.

Jerusalem Post staff contributed to this report.

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