"From data we have obtained concerning significant embezzlement in the Israeli banking sector, it is evident that sixty such events have been discovered in the past five years, of which just five were at Mizrahi Bank," Mizrahi (TASE: MZRH ) CEO Victor Medina told a special press conference this morning.
Medina further maintained that "someone is conducting an organized campaign to present misleading information and create the impression of a wave of fraud at Mizrahi that management is attempting to conceal. I don't know who is behind the campaign, but it is amazing. Four-year-old news items are being recycled as if they are new.
"Our hands are clean, we have concealed nothing and covered up for no man. We watch out for the customers. The embezzlement at Mizrahi is relatively low sums compared to the fraud at the other banks."