Israeli Police Freeze 183 Million Shekels in Corruption Probe Involving Menora Insurance Executives

Israeli police have frozen a total of 183 million shekels amid a major corruption investigation involving Menora Insurance Group and five of its senior executives. The police suspect that bonuses and grants paid to these executives were derived from criminal activities linked to a bribery scheme involving the Histadrut labor federation. On March 21, 2026, authorities seized 90 million shekels from the personal accounts of five top Menora officials and froze 93 million shekels in Menora Insurance's Nostro account, which is separate from client funds.

The investigation centers on allegations that Menora secured renewal contracts for a pharmaceutical insurance policy with the Histadrut by providing illicit benefits and payments to insurance agent Ezra Gabay. Gabay allegedly influenced Arnon Bar-David, chairman of the Histadrut, to favor Menora’s policy renewals, increasing the insurer’s profits. Police describe this as "inducement bribery," with Gabay acting as an intermediary between Menora and Bar-David. Both Bar-David and Gabay deny the charges. The five executives whose funds were frozen include Ari Kalman, CEO and owner of Menora Holdings; his son Michael Kalman, CEO of Menora Insurance; Eran Greifal, chairman of Menora Holdings; Yehuda Ben Assayag, chairman of Menora Insurance; and Orit Kramer, deputy CEO and head of health at Menora Insurance.

The frozen funds represent suspected illicit gains from the bribery scheme, with individual seizures averaging up to 18 million shekels per executive. The total amount frozen is one of the largest ever in an Israeli corporate corruption case, second only to a 2018 bribery probe involving Shikun & Binui. Police also froze real estate assets linked to the suspects. The bribery scandal, known as "Hand Shakes," has been under investigation since 2023 and involves 19 sub-cases. Bar-David and Gabay were arrested in November 2025 and later released under restrictions; Bar-David returned to his post in March 2026 under police conditions.

Menora reported that the frozen funds do not affect its ongoing operations and pledged full cooperation with authorities. The police emphasized their intent to send a message to other companies, noting that Gabay worked with multiple insurers and that public companies must adhere to legal standards. The case highlights concerns about undisclosed commissions and the use of intermediaries to secure lucrative contracts within public institutions.