Two private bankers released to house arrest

October 28, 2005 20:30
1 minute read.

The Nazareth Magistrate's Court on Friday released Avi Yardeni and Menashe Mizrahi, charged with operating private bank, to house arrest. Police in the north recently uncovered the operation and received a tip that the partners allegedly intended to abscond from the country with their customers' money - a sum of some NIS 200 million. Yardeni, 70, from Moshav Kinneret, and Mizrahi, 53, from Tel Aviv, were reported to have run their business for the last five years, promising customers a higher interest rate than that currently available in commercial banks, Army Radio reported. The names of 200 customers of the private bank have been discovered.

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