Bank of Jerusalem stock drops sharply as rumors swirl over employee’s disappearance in Vienna

The stock of the Bank of Jerusalem has been erratic this morning, with sharp drops and some recoveries, amid rampant speculation surrounding the disappearance of bank employee Mali Yahalomi, and unsubstantiated rumors on social media that bank money was somehow involved.

At one point the stock lost some 12%. It has now partially recovered but is still down some 3%.

Yahalomi vanished with her daughter Liel in Vienna on Friday, and Israeli and Austrian authorities are currently probing their disappearance. A gag order had been placed on the case.

The bank says in a statement that it had conducted a review and “no findings were identified indicating any irregular activity involving the bank’s funds or assets.”

CEO Yair Kaplan writes to employees: “It should be emphasized that, aside from the fact that [Yahalomi] is a bank employee, no connection has been found between the incident and the bank.”