Three principal shareholders of the failing Agudath Israel Bank were arraigned in magistrates court yesterday on suspicion of violating banking laws and were released on $6,000 bail each. The shareholders, Yosef Glazer, Simha Horowitz and Menahem Yam Lahor, the bank’s managing director, are charged with knowingly harming the bank and endangering the interests of its customers and depositors. Specifically, the three are accused of granting themselves and other shareholders loans totalling $192,000 without adequate security. They have been ordered not to leave the country pending a hearing of the case. The bank, near bankruptcy, has been taken over by the Bank Leumi.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
