After months-long covert investigation, in cooperation with Interpol and tax authorities, police catch men suspected of defrauding French government, money laundering and tax evasion in ‘complex’ ruse
Israel on Monday arrested three people suspected of money laundering of tens of millions of shekels in an international cryptocurrency scheme.
The arrests followed months of covert investigations conducted by the cybercrime unit and tax authorities, of what the force described as “a complex cryptocurrency structure.”
The police alleged that several suspects were systematically organized to launder funds from Israel and abroad, some obtained illegally, using virtual currencies on different platforms, in order to mask the identities of the people and their trading practices.
The probe concentrated on an “massive fraud” against the French Finance Ministry carried out from Israel, and the theft and laundering of millions of euros by converting them into crypto currency.
The investigation has revealed that the profit from the crypto currency trading were kept from Israeli tax authorities, with tax evasion charges totaling in the millions of shekels.
The three principle suspects were arrested by police and are suspected of money laundering, aggravated fraud and tax evasion.
Police will ask a magistrate court to remand them to custody.
More people were also detained for questioning.
The investigation is conducted with the cooperation of Interpol and the state prosecution’s international division.
As reported by Ynetnews