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Israel Government Permits Canadian to Acquire Closed Ellern Bank

February 21, 1967
See Original Daily Bulletin From This Date

Permission to buy the Ellern Bank here, at an undisclosed sum but for “cash and in dollars,” was granted by the Israel Government today to Benjamin Dunkelman, of Toronto. The bank was one of two taken over by the Government six weeks ago after directors of Feuchtwanger’s, a bank that had previously taken over Ellern’s, had been charged with malpractices.

Two of the Feuchtwanger directors are under arrest on those charges, but the Government has said since the incident was made public that Ellern’s is a sound financial institution.

Mr. Dunkelman, who is 53, came to Palestine 30 years ago, emigrated to Canada, but returned during the 1948-49 War of Liberation, serving as a brigade commander in the Israeli army. During World War II, he served in the Canadian army, attained the rank of major, and, later, was decorated by Canada with the Distinguished Service Order.

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