Dor Alon Reports Suspected $11 Million Theft by Gas Station Employees

Israeli energy company Dor Alon Energy has informed the Tel Aviv Stock Exchange and the Israel Securities Authority about alleged large-scale embezzlement at several of its gas stations. An internal investigation suggests that company employees may be responsible for the theft, with preliminary estimates placing the total damage at approximately 40 million shekels, or about $11 million. The majority of the suspected misappropriations are believed to have occurred over the past two years.

Following the discovery of the irregularities, Dor Alon engaged an external investigative firm to conduct a thorough review and has also reported the matter to the police. The ongoing investigation aims to clarify the circumstances of the events and identify all individuals potentially involved in the embezzlement.

Concurrently, Dor Alon is assessing the potential impact of this incident on its financial reporting. The company is considering the necessity of making adjustments to its accounting records based on the investigation's findings. Dor Alon emphasized that the reported sum is preliminary and subject to change as the investigation progresses.