Rabbi Eichler
The Committee for Public Complaints held a special meeting per request of MK Betzalel Smotritch regarding suspected fraud on the part of schools for the studies of investments in the stock market through the various media. Smotritch reported that his office received a number of public complaints regarding the collapse of one of the companies.
These complaints reflect the fact that many citizens have recently found themselves facing financial setbacks since those that collapse declared bankruptcy due to debts and the inability to return funds to investors. Their administrators have disappeared. Another company went bankrupt before this said company.
Chairman of the Committee, Rabbi Yisroel Eichler said at the onset of the meeting that this relates to a dangerous phenomenon connected to fraud in the stock market. "A pity the people lose the bulk of their savings, accrued through much toil and sacrifice, because they invested it in financial enterprises which seemed very promising, offering high returns. They failed to realize that there are no free meals in this world. In some of the instances, there is no chance of profit because of the high risk of the investments, while in others, there is the element of swindle."
