Hundreds fall victim to Israeli-Ukranian loan fraud

By JPOST.COM STAFF
August 12, 2010 13:42

A ring of Israelis from the Ukraine defrauded thousands in a phony loan deal, police reported on Thursday.

The ring advertised low-interest loans in Russian-language newspapers in Israel, claiming they come from Bank Massad. The victims were asked to transfer a down payment to a bank account, and then received a counterfeited check for the sum of the loan.

Dmitri Malchiel, an Israeli who escaped to the Ukraine four years ago, is suspected of running the ring.


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