Two suspects, a Bnei Brak and Jerusalem resident were taken into custody for allegedly perpetrating a fraud amounting to NIS 50 million by impersonating investment advisors. An uncover investigation led to their arrests.
During the past year, the two perpetrated a well-planned methodical operation as one was known in the community as an investment planner as well as assisting buyers in obtaining a mortgage. During the process of assisting with mortgages, they falsified documents and the bogus documents were submitted to banks.
The documents attested to the income of the persons applying for a mortgage and based on these documents the banks approved mortgages. The two received their share for their efforts and success in securing mortgages for clients. It is estimated they earned a cool NIS 50 million for their efforts.
(YWN – Israel Desk, Jerusalem)
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