Extradited Israeli Charged with Stealing $2.5 Million From Finance Firm

Eyal Rosen, formerly the branch manager for the non-bank credit company Gibui Holdings, has been indicted in Tel Aviv District Court on charges of stealing approximately NIS 9 million (about $2.5 million) from the company. Rosen was extradited from Portugal about a week ago, four years after he left Israel. He is accused of theft in dozens of cases, aggravated fraud, false corporate record-keeping, fraud and breach of trust, money laundering, and securities offenses.

According to the indictment, between October 2020 and September 2020, Rosen exploited his position and relationships with clients to embezzle over NIS 9 million. He allegedly disguised the misappropriation as routine credit activities at the company's northern branch. The stolen funds were reportedly used to purchase company shares and finance business activities of companies he owned or that acted on his behalf, while concealing his actions from Gibui Holdings.

The prosecution is seeking to detain Rosen until the conclusion of legal proceedings, citing a significant risk of flight. "The circumstances of the offenses attributed to the respondent must be taken into account, which included severe, systematic, and sophisticated fraud, both towards the Gibui group companies and towards the company's clients," the detention request stated. Rosen reportedly left Israel in 2022, shortly after an investigation against him began, and did not return until his extradition, despite Israel being the center of his life until then.

During his interrogation, Rosen admitted awareness of the Israel Securities Authority's investigation and claimed to have business dealings abroad involving significant international transactions. The prosecution argues that the fear of him fleeing is concrete and substantial, based on his past conduct. The indictment was filed by attorneys from the Tax and Economic Crimes Prosecution. The investigation was conducted by the Israel Securities Authority.