World’s largest illegal bank unmasked

Baku, Fineko/ Israel’s financial system continues "shaking": first, a hacker from Saudi Arabia posted information on all of the plastic cards issued in the country in the net, then the police revealed the existence of the world’s largest illegal bank.

According to Israeli media, yesterday the Economic Crimes Department of Israeli Police in collaboration with the Tax Department and the Prosecutor’s Office conducted mass arrests and searches in offices located in buildings of Diamond Exchange in Ramat Gan. As it turned out, an underground bank operated the Diamond Exchange’s building for several years and carried out illegal financial transactions - gave loans, made money transfers abroad and clearing of checks and currency exchanges in billions of shekels.

Public inquiry began yesterday morning, but secretly investigation was ongoing for over a year. In a special operation 16 people had been arrested and seized, large amounts of money and financial documents confiscated. Testimony of many witnesses on the case were collected, that will enable to charge the owners and employees with fraud, money laundering, violations of the laws of banking, and tax evasion.



09.01.2012 09:18


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