The Israeli authorities have arrested three people suspected of defrauding the French Treasury. The undercover investigations have been carried out jointly by the Israeli police and the Israel Tax Agency in recent months. Foreign investigative authorities – Europol and the French police – also cooperated.
- According to ReutersInvestigators are investigating a possible “large-scale fraud” which they say was committed at the expense of the French treasury. However, the crime could also have been committed in Israel.
- Authorities suspect that the perpetrators not only stole millions of euros, but also laundered the funds by storing them in cryptocurrencies converted.
- The estimated value of the stolen funds is tens of millions of shekels. Additionally, profits made from crypto activities may have been hidden from the Israel Tax Authority.
- Under the Israeli tax system, selling cryptocurrencies is typically subject to a capital gains tax of up to 33%.
- If, on the other hand, it is a commercial activity, the tax can be up to 50%.
- In a joint statement, the authorities said
“Several suspects organized themselves in an orderly and systematic manner to launder money from abroad and from Israel, some of which came from crimes committed abroad, using digital currencies on various platforms with the aim of verifying the identity of the owners of the funds and to obscure their movements.”
- In addition to the three main people arrested, several other suspects were arrested for questioning on suspicion of money laundering, fraud and tax offenses as well as the intentional embezzlement of income.
Source: Crypto News Deutsch