Israeli PM Olmert in fraud probe
Oct 09,2007 00:00 by UPI
JERUSALEM -- Israeli Prime Minister Ehud Olmert underwent police questioning at his Jerusalem home Tuesday as part of a bank fraud investigation.

The probe is into the privatization of Bank Leumi in 2005 when Olmert was finance minister, Haaretz reported.

National investigators were looking into the terms of the sale to determine if Olmert arranged for bidding to be advantageous to a personal friend, Australian businessman Frank Lowy. Lowy ultimately dropped out of the bidding, the Jerusalem Post said.

Olmert has denied any wrongdoing and reportedly cleared his schedules for Tuesday and Thursday, when more questioning was booked, Ynetnews said.

Haaretz said investigators acknowledged it would be difficult to make a criminal case against Olmert, as there was no evidence he received anything from Lowy. The report said the prime minister's worst-case scenario appeared to be charges of breach of trust for his alleged role in altering the bidding process.

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