Tzur Discharged from Prison

Michael Tzur, former managing director of the Israel Corporation, spent his first free weekend at home after his discharge from prison where he had served six-and-a-half years. Tzur, the first prominent “white collar” criminal in Israel, was sentenced to 16 years in prison with heavy fines for embezzling funds while heading the important government-supported corporation.

His original sentence was reduced to 11 years by President Yitzhak Navon last year, and he was freed last Friday after further reductions for having been what was described as a “model prisoner” who devoted all his time to helping other prisoners.

Tzur said his immediate plans include a vacation abroad and writing a book. He is reported to have received many offers of work from large financial institutions abroad (he has the reputation of a “financial genius”) but says he will continue to live in Israel.

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