Police nab over 20 Israeli fraudsters in joint operation with FBI

Following tip by U.S. authorities, fraud unit raids Tel Aviv office of the suspected crypto scheme company, apprehending 26 workers and confiscating computers and other materials; company director believed to have fled abroad

TPS |
Updated: 10.06.21, 18:14
The police on Tuesday arrested over 20 Israelis on suspicion of defrauding dozens of victims around the world in a covert, joint operation with the FBI.
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  • Members of the Lahav 433 fraud unit raided the company that deals in virtual currency trading located in Tel Aviv and arrested 26 workers on suspicion of defrauding American citizens.
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    They are suspected of committing fraud and money laundering offenses under the guise of foreign exchange (Forex) in digital currencies, amounting to tens of millions of shekels.
    The arrests came following a tip from the FBI, which has been investigating the affair for several months and informed Israel of the suspicious activity.
    Police confiscated computers and other materials pertinent to the investigation. It is believed that the director of the company has fled the country.
    Most of the suspects claimed during their interrogation that they had no idea of ​​any wrongdoing and did not know the system was in fact a scam.
    However, some of the detainees have reportedly been arrested and interrogated in the past.
    Police intend to request that the arrest of the two central suspects in the case, both residents of the Tel Aviv Metropolitan Area in their 30's, be extended.

    First published: 15:04, 10.06.21
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