Dor Alon Employees Suspected of Stealing NIS 40 Million

The Israeli fuel company Dor Alon has reported to the stock exchange that it suspects employees at several of its gas station complexes of large-scale theft, estimated at approximately NIS 40 million. The company stated that most of the alleged theft occurred over the past two years.

Following the discovery of these suspicions, Dor Alon hired an external investigation firm and filed a complaint with the Israel Police. The company is currently examining the potential impact of the affair on its financial statements, including the possibility of needing to make corrections to accounting records.

Dor Alon clarified that the incident has not affected and does not affect customer funds or charges. The company also noted that it holds an insurance policy for embezzlement and fraud, and it estimates the impact on profits, after taxes and other effects, will be significantly lower than the estimated theft amount.

In response to the news, Dor Alon's stock fell by about 2% on the stock exchange. However, the company's stock has seen a significant 34% increase over the past year and has nearly doubled in value over the last five years. Its current market capitalization is NIS 2.7 billion.