Israel Police uncover suspected huge money laundering ring

arrest photo: Shutterstock

30 people have been arrested or detained for alleged tax evasion and false declarations amounting to hundreds of millions of shekels.

Israel Police has uncovered a suspected ring involving dozens of people allegedly evading taxes and money laundering hundreds of millions of shekels.

The ring allegedly managed to gain control of the computer system at the government Registrar of Companies and take control of hundreds and perhaps even thousands of companies and register them under their own names and then make false declarations through forged documents.

During police raids this morning 30 people were arrested or detained, properties and nine cars and trucks were impounded and bank accounts were frozen. The investigation was carried out by the Israel Police National Fraud Squad together with the Israel Tax Authority and the Registrar of Companies.

Police said that some of the suspects also own gas station in several cities through which they allegedly sold adulterated fuel to the public.

Published by Globes, Israel business news - en.globes.co.il - on September 7, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020

arrest photo: Shutterstock
arrest photo: Shutterstock
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