Several months ago, an indictment was filed with the Tel Aviv Magistrate's Court against Phoenix and senior company officials, including the company's legal advisor, Attorney Aryeh Arieli, and the company's health director, Eyal Ben Simon. According to the indictment, the two acted with fraud, deceit, and trickery intentionally and with premeditation, while clearly evading tax payments.
At the beginning of the week, The Phoenix issued a report in which it stated: "The Phoenix's legal counsel announced that he would cease to serve in his positions as chief legal counsel and compliance officer of The Phoenix Insurance, and the board of directors appointed him to serve as deputy director of the headquarters division. In addition, the board of directors appointed the deputy legal counsel as an acting director for the aforementioned positions. Certain restrictions were imposed on the deputy director of the headquarters and the division manager at Phoenix Insurance within the framework of their positions.".
The two who were restricted are Ben Simon - who will cease to engage in the field of credit for agents, and the legal advisor - Adv. Arieli, who has ceased to serve as the company's chief legal advisor. Sources in the capital market explained today that immediately after the Ministry of Finance approached Phoenix to discuss the necessary changes with it, and while an indictment is pending against the two - in their opinion, it is not appropriate for them to continue serving in their positions.
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The role of the company's legal advisor is like that of a gatekeeper. In light of the fact that a criminal indictment is being prepared against the company's "gatekeeper," the Treasury Department insisted that he not fulfill his role, but agreed that he would serve, for the time being, in another position within the company.
