Police have arrested a key suspect in a suspected fraud case involving approximately 5 million Israeli shekels (around £1 million) at Israel’s state-owned Electric Company. The Coastal District fraud unit made the arrest on Monday as part of an ongoing investigation into the alleged embezzlement scheme. A district court has ordered the suspect to remain in custody pending further proceedings. The investigation is continuing as authorities examine the extent of the suspected financial irregularities within the utility company’s operations. Details surrounding the nature of the alleged fraud and the suspect’s role within the Electric Company have not yet been disclosed.

Source: Walla News — Original article in Hebrew.