Fraud Unit investigators arrested a 38-year-old female employee of the YES satellite TV company for allegedly embezzling NIS 24 million (almost $7 million) from the firm.
The suspect, a resident of Herzliya, allegedly perpetrated the fraud over a decade, reported Army Radio. Her identity cannot be revealed by order of the Petah Tikva Magistrates Court which extended her detention for five days.
It is believed that the suspect forged the signatures of authorized individuals and deposited various sums over the years into private accounts.
The satellite company, one of Israel’s two giants in the industry along with Hot cable, said that the suspected fraud was discovered during an internal audit.
“The company initiated a deep and thorough investigation into the matter and turned to the police on Thursday evening with its findings so that it could act immediately to investigate the case,” YES said in a statement.
Get The Times of Israel's Daily Edition
by email and never miss our top stories
By signing up, you agree to the
terms
The suspect’s defense attorney claimed she was being used a scapegoat, and attempted to cast doubt as to why the company hadn’t noticed the missing funds over the years. The attorney said YES was trying to hide its losses ahead of a stock issue, according to Israel Radio.
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
Add ToI as a Preferred Source on Google
