Halutz sells investment portfolio 3hrs before war, page 1

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Topic started on 15-8-2006 @ 01:12 AM by ThePieMaN

Talk about insider trading. This man is the IDF Chief of Staff and denies any wrong doing when he sold his investment portfolio 3hrs prior to the attack on lebanon. He claims it was a normal sale and that he had done so because he took loses a week earlier. It just oozes of insider trading and obvious corruption. This man is a leader? Apparently he missed his morality classes during IDF training.

Report: Halutz sold investments 3 hours after soldiers' abduction

By Haaretz Service

Israel Defense Forces Chief of Staff Dan Halutz went to his bank branch and sold an NIS 120,000 investment portfolio only three hours after two IDF soldiers were abducted by Hezbollah on the northern border, the Ma'ariv daily newspaper reported Monday.

Several hours after the abduction, Prime Minister Ehud Olmert declared war on Hezbollah and Israeli warplanes began bombarding targets deep inside Lebanon.

But as the country's political and military echelons met urgently to discuss the possible declaration of war, Halutz went at 12.00 P.M. on July 12 to sell an investment portfolio.

In response to the report, Halutz confirmed to Ma'ariv that he sold the portfolio on that date and at that time, but denied it had anything to do with the possibility of an imminent war. The IDF chief said he sold the portfolio because of recent losses he took prior to July 12.

Source

reply posted on 15-8-2006 @ 05:11 PM by Hellmutt

He should resign. With a job like that, what he did was inresponsible.

Of course now they try to figure out whether someone from the bank should be punished for leaking this story...

Haaretz: Bank Leumi orders internal inquiry over leak of Halutz affair

15/08/2006

Greatly embarrassed by the affair, Bank Leumi executives ordered on Tuesday an internal inquiry to determine whether its employees leaked information, which has brought many to call for the Israel Defense Forces Chief of Staff's resignation.

Senior sources in the IDF General Staff and field officers who took part in the war in Lebanon said on Tuesday that Chief of Staff Dan Halutz, who went to his bank branch and sold an NIS 120,000 investment portfolio only three hours after two soldiers were abducted by Hezbollah on the northern border, cannot escape resignation.

At this stage, it does not appear that Halutz intends to resign of his own accord.

Please visit the link provided for the complete story.

reply posted on 15-8-2006 @ 05:40 PM by ThePieMaN

Originally posted by Hellmutt
He should resign. With a job like that, what he did was inresponsible.

Of course now they try to figure out whether someone from the bank should be punished for leaking this story...

I thought that the investigation was also for people in the bank who took a cue from halutz that a war was imminent and that they might have done some insider info trading of their own.

Probably one of the reasons he was in the hospital for stomach problems was that the Market had gone up instead of down. After he dumped his stocks.

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