Mickey Friedmann,of Bank Leumi was arrested along with 13 other businessmen on allegations of a massive fraud

Miki Friedman, who is currently Bank Leumi's manager of its operations in Britain, is alleged to have approved loans worth NIS 25 million ($7.5 million) to various businessmen on the basis of fictitious bank statements and without requiring collateral or a guarantor, as is mandated by bank regulations.
arrested a Bank Leumi executive and 13 senior businessmen who are suspected of colluding in a fraud and embezzlement scheme worth millions of shekels.
The alleged offenses occurred during Friedman's tenure as the chief of Bank Leumi's central branch from 2005 to 2007. Police also suspect that the chief executive officer of a furniture company acted as a middleman in deals with other businessmen, and that he received commission on those deals. Investigators are attempting to ascertain whether Friedman received bribes in exchange for authorizing the loans. Police are expected to request the courts extend the remand of the suspects.The CEO of Bank Leumi in Britain, Mickey Friedmann, was arrested along with 13 other businessmen on allegations of a massive fraud, Israel Radio reported Tuesday.
Friedmann, who served previously as the CEO of Bank Leumi's central branch in Tel Aviv, allegedly gave loans based on false statements, without guarantees and against the bank's regulations. The fraud is estimated at NIS 25 million. An investigation is taking place in the Tel Aviv District Fraud Unit.