Businessman convicted of $2 million int'l trade 'sting'

September 13, 2011 17:52


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The Tel Aviv District Court convicted businessman Uri Resh on Tuesday of a series of sophisticated fraudulent "sting" schemes that netted him over $2 million dollars from unsuspecting international electronics suppliers.

Resh was convicted alongside Yehoshua Shlush, Erlado Farizi, and Avi Kalmaro of forgery, fraud and customs and tax offenses committed over a decade ago.

Judge Uri Shoham found that Resh was behind a sophisticated scheme involving fake letters of credit (LC), in which computers and electronics suppliers from several countries were swindled out of millions of dollars.

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