Dor Alon Suspects Massive Theft of NIS 40 Million from Gas Stations
Translated & summarized from Walla by baba
Israeli energy company Dor Alon suspects employees of stealing approximately NIS 40 million from its gas stations over the last two years. The company has filed a police complaint and is assessing financial impacts, though it expects insurance to cover most losses.
The story in 5 lines · by baba
- Dor Alon suspects employees stole NIS 40 million from gas stations.
- The alleged theft occurred over the past two years.
- The company filed a police complaint and hired investigators.
- Dor Alon expects insurance to significantly reduce financial impact.
- Customer funds and obligations were not affected.
Energy company Dor Alon announced Tuesday it suspects a large-scale theft totaling approximately NIS 40 million (about $11 million USD) from several of its fueling complexes. The company informed the stock exchange and the Israel Securities Authority of the suspected embezzlement, which it attributes to employees at specific locations.
The majority of the alleged theft is believed to have occurred over the past two years. Following the discovery, Dor Alon hired an external investigative firm and filed a formal complaint with the Israel Police. The company is also assessing the potential impact on its financial statements and the need for accounting corrections.
Dor Alon stated it has an insurance policy for fraud and embezzlement, and estimates the net impact on profits, after accounting for taxes and other effects, will be significantly lower than the NIS 40 million figure. The company also emphasized that the incident has no bearing on customer funds or obligations.
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