Ramat Gan Diamond Exchange traders 'ran illegal bank'

By
January 8, 2012 16:58




A massive police investigation into a suspected illegal 'shadow bank' based at the Ramat Gan Diamond Exchange resulted in the arrest 16 suspects on Sunday.

The suspects illegally handled around a billion shekels while carrying out a range of undeclared banking activities, police said.

The suspects, some of whom are traders at the Diamond Exchange, were arrested at their homes and businesses by dozens of police and Tax Authority officials, following a year-long undercover investigation.


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