Tibor Rosenbaum, head of the International Credit Bank, will be presented this week before a Geneva remand court where the state prosecutor will ask that he be kept in preventive detention on charges of fraud and misuse of public funds. With him will appear Abraham Rimmer a director of the bank. The two men were arrested last Tuesday at Geneva Airport as they were about to leave the country for Paris.
Legal sources in Geneva believe that, as a result of these arrests and of the report of the official liquidators of the international Credit Bank, the bank will go into bankruptcy later this month Robert Pennone, a spokesman for the liquidators, Deloitte, Haskins and Sons, said here today that his firm will present a final report by the middle of the month. Sources close to the liquidators’ firm believe that the assets of the bank are far smaller than had originally been thought and will not cover the bank’s liabilities, estimated at over 500 million Swiss France (about $200 million).
Rosenbaum, a prominent figure in world Jewish organizations, was interrogated all day Friday by the Geneva investigating magistrate, Pierre Moriaud. Rimmer and their attorneys were present. Legal sources in Geneva believe that Rosenbaum was arrested after he failed to supply the Geneva trade court and the liquidators with documents and the assets of the company he controlled in Vaduz, Lichtenstein.
The director-general of the Israel Corporation, Israel Galed, and two of the Corporation’s legal advisors visited Geneva prior to Rosenbaum’s arrest and reportedly met with Swiss judicial authorities. The two men reportedly handed to the Swiss authorities a copy of the charge sheet used against the Corporation’s former director-general, Michael Tzur, in which Rosenbaum was mentioned as an alleged accomplice.
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.
