Israel Police arrest 18 for international fraud
According to the Israel Police, the suspects were detained and their homes and businesses raided on suspicion of conducting 'large-scale, systematic' fraud of international companies; Investigation is being conducted with Israel Securities Authority.
Police stated that "Suspects were involved in systematically committing large-scale fraud against foreign companies, including false representations designed to convince victims to transfer funds to the accounts of those involved."
The statement from police further added, "As part of their investigation, officers from the national fraud investigations unit raided the homes and businesses of suspects in Ashdod, Netanya, Tel Aviv, Ramla, Tira, Givatayim, Gan Yavne and Ashkelon. Computers, cell phones, money, documents and all materials relevant to the investigation were collected.
"Depending on developments, a hearing to request an extension of detention will be held in the Rishon Lezion Magistrate's Court. The investigation, which is still in early stages, is being jointly managed with the Israel Securities Authority and the State Attorney."
