Police arrested 16 suspects on Sunday on suspicion of
running an illegal, undeclared bank out of their Ramat Gan Stock
Exchange offices and illegally handling around a billion shekels.
The suspects were arrested at their homes
and businesses by dozens of police and Tax Authority officials,
following a year-long undercover investigation.
suspects systematically money laundered large sums... converted foreign
currency, and gave illegal loans," police said. "They made major
profits, and used their offices as an undeclared bank," police added.
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