A 47-year-old Petah Tikva resident was arrested on Sunday for allegedly cheating some 40 former soldiers out of approximately NIS 1 million, it was reported on Monday.
Police believe the suspect, with the help of accomplices, posed as the soldiers in question and presented false documents in order to get their monetary awards.
According to the investigation, dozens of requests for the money were received during November and December 2006 from combat soldiers who had finished their army service. The award, worth NIS 20,000, is given to soldiers five years after their release from duty, but can be given before that if the soldier presents proof that they have set up a business or registered for school.
In January, after the money was already transferred, it became clear that the requests - which included receipts from an equipment company called A. A. Technology to prove that the soldiers had opened businesses - were in fact false and that the company did not exist.