Play2bet is suspected of raking in hundreds of millions of shekels a year and laundering money for organized crime.
The Israel Police National Serious and International Crimes Unit today arrested seven men and detained eighteen others on suspicion of operating an illegal online betting ring that raked in hundreds of millions of shekels a year, and making huge profits, which were laundered in various ways.
The police launched the investigation on the basis of information obtained by the Police Northern District regarding website "play2bet", which was carrying out extensive illegal gambling activity. Money from the website went to a moneychanger "KG", where it was laundered, and some was sent abroad.
The police claim that play2bet provided a wide range of gambling venues, mostly on sports. Police investigators added that the Tel Aviv-based website operated around the clock, using a server located in Europe. The website's operator, a 24 year old Tel Aviv resident is suspected of managing the bets.
Published by Globes [online], Israel business news - www.globes-online.com - on January 29, 2008
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