Menorah Mivtachim: Only Fund Freeze Known in Histadrut Affair, No Other Impact

Menorah Mivtachim stated that the only development in the Histadrut affair known to the company is the freezing of funds as part of the investigation, and that this step does not affect its ongoing operations. The company said it will continue to cooperate, as reported by N12.

Menorah Mivtachim issued a statement Monday evening, at approximately 22:22 Jerusalem, confirming that the only development in the Histadrut affair known to the company is the freezing of funds as part of the investigation. The company emphasized that the freeze has no impact on its ongoing operations and that it will continue to cooperate. The statement was reported by N12.

The company's response comes about three hours after a series of police announcements at 19:01 Jerusalem, detailing the seizure of 93 million shekels from Menorah and an additional 90 million shekels from its executives in the 'Hand Shakes Hand' corruption probe. A police source described the combined sum as unprecedented in the force's history. Earlier reports at the same time indicated that police had raided the Menorah offices on suspicion of bribery, alleging that the company promoted a policy for the Histadrut labor union by providing benefits to insurance agent Ezra Gabai, who allegedly had influence over Histadrut chairman Arnon Bar-David.

The Zioneer reported earlier that the investigation, code-named 'Hand Shakes Hand', involves allegations of bribery and corruption within the Histadrut, Israel's largest labor union. The seizures mark a significant escalation in the probe.

It remains unclear whether the company's statement addresses any other aspects of the investigation. The executives are expected to be summoned for further questioning at the national fraud unit later this week. The full scope of the affair remains under investigation.

8 developments

1. 1 hour ago · 22:22 · 6 JulLatest

   Menorah Mivtachim confirms fund freeze, states no impact on ongoing operations.

2. 20:55 · 6 Jul

   Police seized funds from a public company in Histadrut probe.

3. 20:13 · 6 Jul

   Breakdown: 93 million from company, 90 million from executives.

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