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| Jacob Frenkel |
The new incoming Bank of Israel chairman is being accused of shoplifting in Hong Kong.
Jacob Frenkel, who was appointed as the next governor of Israel's central bank, has been under a cloud, after it was revealed that he was previously accused of shoplifting.
A committee of senior public administration officials have asked the president of JP Morgan Chase International, to explain why it was not told about an incident in 2006. The incident involved a theft at a duty-free shop at the Hong Kong International Airport.
"Upon leaving the store, a bottle of cologne that seemed to have been not paid for was found among the belongings of Frenkel," according to reports.
"A security guard stopped Frenkel and prevented him from boarding his flight. The event was captured on security cameras," he said.
He said that Frenkel was confined to an airport hotel for 24 hours before being allowed to travel.
"Local authorities in Hong Kong concluded that it was an unfortunate misunderstanding, and expressed their apologies and recognition that I did not sue for compensation," the Bank of Israel governor said in a statement.
"I hope to assume the office of governor of the Bank of Israel in early October," he added.
Frenkel, 70, was appointed last month to replace former World Bank chief economist Stanley Fischer, 69, who is stepping down from the central bank after eight years on the job.