THE DETROIT JEWISH NEWS
12 January 23, 1976
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Israel Corp.-Rosenbaum Issue Takes New Turn in Courtroom
JERUSALEM (JTA) — stein. The collapse left the
Legal and financial circles Israel Corp., Israel's pres-
here are discussing with in- tige finance company, and
terest the possible repercus- its associated companies,
sions of a Tel Aviv court $29 million out of pocket,
judgment on the Israel because deposits they had
Corp.-Tibor Rosenbaum af- placed with Rosenbaum
fair.
could not be recovered.
Tel Aviv District Court
In a subsequent crimi-
Judge Shlomo Lowenberg nal action here, the Israel
ruled, with the consent of 'Corp. director-general
all the parties, that civil ac- Michael Tzur, was sent-
tion taken against Geneva enced to 15 years impris-
banker Tibor Rosenbaum by onment on charges of em-
the Israel Corp., in Israel, bezzlement, bribery, fraud
and currency offenses.
should now be dropped.
The corporation last year Tzur's appeal is due to be
got the court to block Rosen- heard by the Israel Su-
baum's assets in Israel, esti- preme Court in March and
mated at $15 million, fol- legal observers here be-
lowing the collapse of his lieve that the aforemen-
Geneva-based International tioned judgment by Judge
Credit Bank and its allied Lowenberg may affect the
Inter-Credit Trust, regis- appeal.
"What had seemed black
tered in Vaduz, Lichten-
at first," the judge wrote,
"appears not so on closer ex-
amination." He was refer-
ring to the Israel Corp.'s al-
legation that Tzur and
Rosenbaum had conspired
to transfer $8.5 million of
Israel Corp. monies to the
Rosenbaum trust company
without the knowledge of
the Israel Corp. board of
directors.
"After matters were ex:
amined in the Israel Corp.
books," the judge wrote, "it
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conducted through the per-
sonal contact only between
Tzur and Rosenbaum were
actually recorded regularly
in the Israel Corp. books
and were open to inspec-
tion."
Judge Lowenberg noted
that these transfers were ef-
fected over a period of three
years, in open correspond-
ence between the two com-
panies, were reported to the
Israeli authorities and were
known to the corporation's
auditors. Rosenbaum had
no reason to suspect, the
judge continued, that the
transfers had been made by
Tzur acting alone and with-
out authorization.
The judgement may
have repercussions, too,
on the private criminal
prosecution which Israel
Corp. chairman, Baron
Edmond de Rothschild of
Paris, has brought against
Rosenbaum in the Swiss
courts. That prosecution is
also based on the $8.5 mil-
lion transfers. Rosen-
baum's lawyers are cer-
tain to argue that the Tel
Aviv judgment clears their
client of criminal com-
plicity in a conspiracy and
to press, therefore, to have
the charges dropped.
Rothschild's criminal
action against Rosenbaum
is the only criminal proceed-
Mexico Picks Jewish Diplomat
as Its United Nations Emissary
MEXICO CITY (JTA) —
Roberto Rosenzweig of Mex-
ico City has been appointed
Mexico's ambassador to the
United Nations.
Officials here said the
Jewish career diplomat was
being sent to the UN be-
cause of his experience in
the Middle East. Prior to his
new appointment, he had
been Mexican Ambassador
to Egypt. --
At the UN, Rosenzweig
succeeds Alfonso Garcia
Robles, who has been
named Mexican Foreign
Minister, succeeding Emilio
Rabasa, who resigned last
month.
In New York, the Con-
ference of Presidents of
Major American Jewish
Organizations will
"reassess" its policy on
Mexico and has appointed
a committee "to make ap-
propriate recommenda-
tions in the near future,"
the conference said.
"The Conference of Presi-
dents of Major American
Jewish Organizations notes
an encouraging series of ac-
tions recently taken by the
government of Mexico in its
relationship with the Jewish
people."
While the statement did
not specify what were the
"encouraging series of
actions," they were be-
lieved to refer to the Mexi-
can government's decision
to absent itself from two
votes of UN specialized
agencies for the anti-Zion-
ist resolution at meetings
last month. One was a
meeting of UNESCO in
Paris and the other a
meeting of the Interna-
tional Civil Aviation Or-
ganization in Montreal.
Another such action was
understood to be current ne-
gotiations between Mexico
and Israel for landing rights
for El Al in Mexico which, if
successful, will mark the
Israeli international air-
line's first entry in to the
Latin American air travel
market.
ing that the 'ruined financier
faces. The Swiss banking
authorities, having exam-
ined the affairs of his
crashed empire, have not, to
date, pressed any criminal
charges. They seem to have
concluded that his losses,
set at 345 million swiss
francs, were the result of a
string of financial misfor-
tunes rather than of
breaches of the law.
In Tel. Aviv, the Israel
Corp. lawyer Amnon Gol-
denberg asked Judge Low-
enberg to amend his judg-
ment in order to make it
clear that he was not saying___
the Israel Corp. director
had a hand in the transfers..
The application was post-
poned pending the return of
Rosenbaum's lawyer, Avra-
ham Biran, to Israel. But
Judge Lowenberg stated
that this implication was
not his intention.
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