Completed investigation of the Underground Market at the Stock Exchange

The National Fraud Unit and Task Force dealing with professional money launders, in collaboration with the Diamond Unit and Office of Investigations VAT Jerusalem, Israel Tax Authority, accompanied by the State Attorney's Office / Attorney taxation and economics, have recently completed the widespread investigation on the existence of the underground secret bank in the Stock Exchange diamond district in Ramat Gan, which conducted - according to the suspicion - illegal activities for years.

It is suspected that the "Bank" which operated in the Stock Exchange exploited the special arrangements applicable to the world of diamonds and trust given to workers in this special field, to launder money systematically for years.

The story began in 2011, when undercover investigation began which included extensive information and sophisticated operations as well as various technological means, with the help gathered by physical evidence of the existence of the underground bank within the stock market.

The investigation became public in early 2012 with the implementation of extensive searches, questioning suspects and many involved. Among the suspects are businessmen who served as the Director of the Bank, various workers, Orthodox businessmen and diamond stock exchange employees.

The findings of the investigation indicate that the underground bank provided exchange services of hundreds of millions of dollars for years, without reporting to the authorities, under the guise of fictitious diamond transactions.

In the investigation of the Bank's activities it was revealed they transferred million's of shekels abroad without reporting it. In addition, fake invoices to conceal the diamond transactions, which never took place and fictitious import of diamonds was carried out, in cooperation with the diamond exchange.

As a result of their activities, the suspects swept large financial gains from commissions collected from customers amounting over the years an estimation of millions of dollars. This broad spectrum of tax offenses is investigated and is still under investigation by the Tax Authority. Some of the materials related to the joint investigation and prosecution will be part of the offenses, as mentioned, are still being investigated Tax Authority.

During the investigations large amounts of property were perceived by the suspects, including diamonds worth millions of dollars, real estate property. Likewise, millions in the bank accounts and investments were frozen.

The findings of the investigation indicate that a sufficient evidential basis for offenses under the Money Laundering Law, Income Tax and Tax Law, as well as offenses of disruption and destruction of evidence has been formed.

These days, the case is transferred to the State Attorney / Attorney taxation and economics.

'בחדרי' גם ברשתות החברתיות - הצטרפו!