Career
He served as the managing director of Israel-British Bank. Following the collapse of the bank in July 1974, owing British investors £46.6 million, Ben-Zion was convicted of embezzling £20 million ($394 million) from the bank. He was sentenced to 12 years in prison.
After urging of the Israeli prime minister Menachem Begin in 1977, Ben-Zion was pardoned by the Israeli president Ephraim Katzir, on medical grounds.
He was released after serving three years. Ben-Zion was born in Mandate Palestine and spent his childhood in the United States of America. In 1972 he was a jurist in the trial of the women involved in the Sabena Flight 571 hijacking.
In 1973 he was the president of Lydda Military Court, with rank of major.