The Tel Aviv District Court today sentenced former Bank Leumi (TASE: LUMI) central branch manager and Leumi UK CEO Miki Friedman to eight years in prison, with an additional 28 months suspended sentence and a NIS 2.5 million fine. Last July, Friedman was convicted of stealing NIS 30 million from Bank Leumi in 2005-2007 on behalf of others in which became known as the fictitious loans caper. RELATED ARTICLES Former Bank Leumi official convicted of theft The Court also convicted Friedman of a number of cases of aggravated fraud, fraud, and breach of trust in a corporation; executive crime in a corporation; and conspiracy to commit fraud. He was further convicted of holding a suspected stolen asset, after NIS 2.3 million was found in his bank account and the accounts of his children. Published by Globes [online], Israel business news - www.globes-online.com - on November 18, 2014 © Copyright of Globes Publisher Itonut (1983) Ltd. 2014
