Israel police arrested 13 suspects on suspicion of money laundering and fraudulent offenses
Israel police arrested 13 suspects on suspicion of money laundering and fraudulent offenses under the Income Tax Ordinance. This is in the context of conducting illegal Forex scams for foreign exchange trading activities.
Following a covert investigation by the Israel Police - Northern District, against phenomena of serious and organized economic crime, dozens of policemen raided the homes of suspects living in Karmiel and the surrounding areas this morning, and offices allegedly operating illegal Forex arenas.
The operation of illegal Forex arenas is used to launder money while committing tax offenses by crime organizations in Israel and around the world.
According to the suspects, the suspects, each on his part, allegedly committed fraud offences against innocent civilians. This is because they appeal to the victims of the crime by various means and want to transfer money to them for foreign currency purchases with the promise of high returns and high profits.
Investing in Forex arenas is considered a speculative and risky investment channel based on an attempt to anticipate future changes in foreign exchange rates. In Israel, there are a number of legal Forex arenas approved by the Israel Securities Authority conducting real online trading.
The operation of non-certified Forex arenas is prohibited by law, these arenas are based on virtual commerce in the arena operators' computer system. Thus, the trade is exposed to the manipulation by arena operators for the purpose of fraud aimed at the traders.
As part of the arrests, the forces searched for digital storage and additional evidence to formulate an evidence base for prosecuting the suspects. Among other things, the police seized 9 vehicles, including luxury vehicles and cash worth NIS 180,000, as well as ledgers, documents and other evidence.
The investigation is being conducted by the Israel Police, in collaboration with the income tax assessor Investigation Officer of Haifa and the Northern Tax Authority.
The Israel Police are recommending that the public show special vigilance at this time. Do not rush to commit and transfer funds, and it is advisable to carefully examine the nature of the business or company. The Israel Police and the Tax Authority will continue to investigate and expose criminal offenses, investigating and investigating any suspected criminal activity that harms normative citizens and the state's economy.
May 18, 2020, Israel Police Spokesman