Yehoshua Ben-Zion
Encyclopedia
Yehoshua Ben-Zion was an Israeli
banker. He served as the managing director of Israel-British Bank
. Following the collapse of the bank in July 1974, owing British investors £46.6 million, Ben-Zion was convicted of embezzling £20 million ($39.4 million) from the bank. He was sentenced to 12 years in prison. After urging of the Israeli prime minister Menachem Begin
in 1977, Ben-Zion was pardoned by the Israeli president Ephraim Katzir
, on medical grounds. He was released after serving three years.
Ben-Zion was born in Mandate Palestine
and spent his childhood in the USA. He was a member of the Irgun
and later became a colonel in the Israel Defense Forces
. In 1972 he was a jurist in the trial of the women involved in the Sabena Flight 571 hijacking.
In 1973 he was the president of Lydda Military Court, with rank of major.
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
banker. He served as the managing director of Israel-British Bank
Israel-British Bank
Israel British Bank was a bank founded in the 1930s by Polish Jewish immigrants to Mandate Palestine as the Immigrant Bank. It was purchased in 1938 by Nahum Zeev Williams and on his death passed into the hands of a group headed by his family, associated with the Mizrachi movement.In July 1974 the...
. Following the collapse of the bank in July 1974, owing British investors £46.6 million, Ben-Zion was convicted of embezzling £20 million ($39.4 million) from the bank. He was sentenced to 12 years in prison. After urging of the Israeli prime minister Menachem Begin
Menachem Begin
' was a politician, founder of Likud and the sixth Prime Minister of the State of Israel. Before independence, he was the leader of the Zionist militant group Irgun, the Revisionist breakaway from the larger Jewish paramilitary organization Haganah. He proclaimed a revolt, on 1 February 1944,...
in 1977, Ben-Zion was pardoned by the Israeli president Ephraim Katzir
Ephraim Katzir
Ephraim Katzir was an Israeli biophysicist and former Israeli Labor Party politician. He was the fourth President of Israel from 1973 until 1978.-Biography:...
, on medical grounds. He was released after serving three years.
Ben-Zion was born in Mandate Palestine
Mandate Palestine
Mandate Palestine existed while the British Mandate for Palestine, which formally began in September 1923 and terminated in May 1948, was in effect...
and spent his childhood in the USA. He was a member of the Irgun
Irgun
The Irgun , or Irgun Zevai Leumi to give it its full title , was a Zionist paramilitary group that operated in Mandate Palestine between 1931 and 1948. It was an offshoot of the earlier and larger Jewish paramilitary organization haHaganah...
and later became a colonel in the Israel Defense Forces
Israel Defense Forces
The Israel Defense Forces , commonly known in Israel by the Hebrew acronym Tzahal , are the military forces of the State of Israel. They consist of the ground forces, air force and navy. It is the sole military wing of the Israeli security forces, and has no civilian jurisdiction within Israel...
. In 1972 he was a jurist in the trial of the women involved in the Sabena Flight 571 hijacking.
In 1973 he was the president of Lydda Military Court, with rank of major.