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Israeli Authorities Bust Money-Laundering Ring

03:32 PM Mar 04, 2024 IST | 8PM News Desk
israeli authorities bust money laundering ring
Israeli authorities bust money-laundering ring

Tel Aviv [Israel]: Israeli Police and the Tax Authority arrested 14 suspects in northern Israel accused of running a money-laundering operation.

Authorities said the suspects distributed and offset fictitious invoices amounting to approximately 130 million shekels (USD 36 million). The suspects then laundered the received checks at various financial service providers.

During raids in several towns, investigators seized hundreds of thousands of shekels in cash, five luxury cars, computers, checks, jewelry, invoices, and more.

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