Eyal Rosen Indicted in Tel Aviv Court for 9 Million Shekel Gibuy Fraud
An indictment for stealing 9 million shekels was filed in Tel Aviv against Eyal Rosen, former Afula branch manager of Gibuy Holdings, following his extradition from Portugal.
An indictment was filed at the Tel Aviv District Court against Eyal Rosen in connection with the non-bank credit firm Gibuy Holdings, following his extradition from Portugal roughly a week ago, four years after fleeing Israel.
Rosen, who served as the manager of Gibuy Holdings' Afula branch, stands accused of stealing 9 million shekels across dozens of instances, aggravated fraud, falsifying corporate documents, corporate breach of trust, money laundering, and securities offenses.
Systemic Embezzlement and Fraud
According to the indictment, between October 2020 and September 2021, Rosen exploited his prominent position at Gibuy and personal relationships with clients to misappropriate over 9 million shekels of company funds. He allegedly disguised the embezzlement as routine credit operations at the public company's northern branch.
The prosecution asserts that Rosen used the stolen funds to purchase company shares and finance business ventures owned by himself or third parties acting on his behalf, deliberately concealing his actions from the firm to prevent regulatory reporting.
Extradition and Detention Request
The State Attorney's Office has requested that Rosen be held in detention until the conclusion of legal proceedings, citing a concrete flight risk. Prosecutors emphasized the sophisticated and systematic nature of the offenses targeting both Gibuy group companies and individual clients.
Rosen fled Israel in 2022 shortly after investigations commenced, remaining abroad until his recent extradition. During questioning, Rosen admitted he was aware of the Israel Securities Authority's investigation, citing overseas business ties and international transactions to justify his absence.
