Fuel Company Dor Alon Suspects Employees of Stealing $11 Million
Translated & summarized from Behadrei Haredim by baba
Israeli fuel company Dor Alon suspects employees of stealing approximately $11 million over the past two years from its fueling stations. The company has filed a police complaint and expects insurance to cover most of the loss.
The story in 5 lines · by baba
- Dor Alon suspects employees stole $11 million from fueling stations.
- The alleged theft occurred mostly over the last two years.
- The company has filed a police complaint and hired investigators.
- Insurance is expected to significantly reduce the financial impact.
- Customer funds were not affected by the alleged theft.
Israeli energy company Dor Alon reported to the stock exchange and the Israel Securities Authority on Tuesday suspicions of a large-scale theft totaling approximately 40 million shekels (about $11 million) from several of its fueling stations. The company stated that most of the sum was lost over the past two years and is attributed to employees at specific locations.
Following the initial discovery, Dor Alon hired an external investigation firm and filed a formal complaint with the Israel Police. The company is also reviewing potential implications and will make necessary corrections to its financial statements.
A spokesperson for Dor Alon told Walla News that the company has an insurance policy for embezzlement and fraud, which will significantly mitigate the impact on net profit. They also confirmed that customer funds were not affected and customers were not charged inappropriately.
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