Finance Magnates understands through unconfirmed reports that an as-yet-unnamed affiliate based in Israel has been arrested on suspicion of alleged money laundering.
In a police raid believed to have been conducted this week in the Mediterranean coastal city of Herzilya, it is understood the owner of a long-established affiliation and marketing company specializing in financial trading, has been arrested.
Full details, at this stage, are yet to be released. However, Finance Magnates has learned of the arrest through multiple, as yet unconfirmed sources.
While it may be unrelated, local media have reported that Israeli police this week arrested 21 individuals on suspicion of criminal activity including money laundering. Businesses were raided across Israel from the South to the North.
The estimated amount that has been laundered by the businesses involved, according to local reports, is estimated at NIS 500,000,000.
Recently, the Israeli police have been very active in combating fraud and past criminal activity in the financial sector with a number of Israeli citizens arrested in both Israel and abroad. In October, 2 Israeli citizens connected with financial trading were arrested after Germany requested their extradition.
The former Chief Financial Officer (CFO) at Celsius was also arrested earlier this year on fraud allegations in his previous role at Singulariteam.
We will update the story as it develops.
Finance Magnates understands through unconfirmed reports that an as-yet-unnamed affiliate based in Israel has been arrested on suspicion of alleged money laundering.
In a police raid believed to have been conducted this week in the Mediterranean coastal city of Herzilya, it is understood the owner of a long-established affiliation and marketing company specializing in financial trading, has been arrested.
Full details, at this stage, are yet to be released. However, Finance Magnates has learned of the arrest through multiple, as yet unconfirmed sources.
While it may be unrelated, local media have reported that Israeli police this week arrested 21 individuals on suspicion of criminal activity including money laundering. Businesses were raided across Israel from the South to the North.
The estimated amount that has been laundered by the businesses involved, according to local reports, is estimated at NIS 500,000,000.
Recently, the Israeli police have been very active in combating fraud and past criminal activity in the financial sector with a number of Israeli citizens arrested in both Israel and abroad. In October, 2 Israeli citizens connected with financial trading were arrested after Germany requested their extradition.
The former Chief Financial Officer (CFO) at Celsius was also arrested earlier this year on fraud allegations in his previous role at Singulariteam.
We will update the story as it develops.
Source: https://www.financemagnates.com/forex/breaking-major-israeli-fx-affiliate-understood-to-be-arrested/