Suspicion of Money Laundering with Crypto Coins Worth About 16 Million Shekels; Five Arrested

In depth

The economic unit of Lahav 433 arrested five suspects on suspicion of money laundering, providing financial services without a license and fraud by false pretenses, involving about 16 million shekels. According to the suspicion, the detainees conducted trading in cryptographic coins through a WhatsApp group. Investigators are examining how money transfers were presented as legitimate loans.

Searches conducted seized computers, digital wallets and tens of thousands of shekels in cash. The arrests were carried out by the economic unit (YALAK) in Lahav 433.

According to the suspicion, the detainees laundered money through fictitious loan agreements. The suspects are being investigated on suspicion of money laundering, providing financial services without a license and fraud by false pretenses.