The arrest resulted from an international investigation, which led to suspicions that parties in the UK had tried to launder €219 million in several locations around the world.
The Israel Police National Fraud Unit yesterday arrested an Israeli citizen on suspicion of attempting to launder money obtained through fraud.
The arrest resulted from an international investigation, which led to suspicions that parties in the UK had tried to launder €219 million in several locations around the world. The police suspect that these parties gave the Israeli €20 million to deposit in an Israeli bank account.
The suspect was brought to the Tel Aviv Magistrates Court for remand. The police stressed that the affair was unrelated to the money laundering affair at the Hayarkon branch of Bank Hapoalim (LSE: BKHD; TASE: POLI) in Tel Aviv.
Published by Globes [online], Israel business news - www.globes.co.il - on March 17, 2005