The Tel Aviv District Court today sentenced Dan Dankner, the former chairman of Bank Hapoalim (TASE: POLI) to 12-months in prison. In October, following a plea bargain, he was convicted on charges of fraud and breach of trust, and harming the proper management of a banking corporation. Dankner was also given a further suspended prison sentence of 12 months and a NIS 1 million fine.
Judge Zvi Gurfinkel said, "Acts such as those committed by Dankner harm the public's trust in the banking system. A bank that loses the public's trust could collapse. Dankner's conduct reflects a significant worsening of corporate governance at Bank Hapoalim. His behavior must be seen to be uprooted by the corporation's directors."
The State Prosecutor had asked for an 18-month prison sentence.
Dan Dankner is a cousin of Nochi Dankner, who looks set to lose control of IDB Holding Corp. Ltd. (TASE:IDBH).
Published by Globes [online], Israel business news - www.globes-online.com - on December 19, 2013
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