Police Reveal Suspected NIS 500 Million Money-Laundering Network
Published
Israel Police and the Tax Authority revealed an alleged international money-laundering and tax-evasion network after a covert investigation lasting more than a year. Authorities suspect three central figures used fictitious companies and nonprofits in Israel and abroad, false invoices, real-estate payment vouchers, cash and bank transfers to process about NIS 500 million. Investigators searched the homes of 16 people on July 14 and seized dozens of properties allegedly bought or financed with concealed funds. A court extended the detention of two central suspects, aged 48 and 56, until Thursday.
Sources
Difference in reporting
Sources factually disagree on the weekday of the announcement: ICE calls July 22 Tuesday, while Channel 14 identifies Wednesday. The remaining facts are uniform: authorities revealed an alleged NIS 500 million laundering network after a yearlong investigation, three central suspects were arrested, 16 homes were searched, and two detentions were extended until Thursday.
Commentary
Loading comments…