Economy

Court sends former Israeli bank chief to prison

JERUSALEM (AP) — An Israeli court has sentenced the former chairman of a major Israeli bank to a year in prison following his conviction on charges of fraud and breach of trust.

Danny Dankner served as chairman of Bank Hapoalim between 2007 and 2009 and in October confessed in a plea deal to the charges against him. He was convicted of lying about his personal wealth, promoting bank deals that would benefit his personal business partners and obtaining a loan from Dutch bank DHB by trickery.

The court sentenced Dankner on Thursday to a year in prison and a 1 million shekel ($285,000) fine. In 2009, Dankner was forced to step down under unprecedented pressure from the Bank of Israel and was arrested shortly afterward.

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