Dor Alon Energy Suspects $11 Million Embezzlement by Employees
Israeli energy company Dor Alon Energy informed the stock exchange on September 8th of suspicions regarding the embezzlement of 40 million shekels (approximately $11 million USD) by its employees. The alleged criminal activity reportedly took place over the past two years at several of the company's gas stations.
Dor Alon has engaged a private detective agency to investigate the suspected thefts. Following the agency's involvement, a formal complaint was filed with the police. The company is currently assessing the potential financial implications of the incident, including whether its financial statements will require revision.
It is noted that large companies in Israel, such as Dor Alon, typically carry insurance policies to cover losses from theft and fraud.
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