Israel Arrests 3 in Crypto Scheme to Launder Millions Stolen From France – Bitcoin News

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Israel police detain 3 suspects in an international money-laundering scheme using crypto.

Police in Israel have detained three suspects who allegedly laundered millions of euros stolen from the French treasury through cryptocurrency transactions. The money came from government grants for businesses affected by the Covid-19 pandemic.Three people have been arrested inthis week on suspicion of providing money-laundering services to criminals who defrauded the French state.

According to the publications, the authorities believe the detained persons have used various cryptocurrencies to launder millions of euros, which were then returned to the French clients, for which the Israelis were remunerated. Several other suspects have also been questioned as part of the efforts to unravel the scheme.

While the Israelis started working on the case earlier in 2022, the French launched their investigation last year. The fraudsters in France exploited the government program to support entities impacted by the negative effects of the Covid-19 pandemic in 2020 and 2021, when the European economy was hit by lockdowns.

The French organizers of the theft established fictitious companies and managed to apply and receive compensation payments granted by the government. Paris wanted to quickly distribute the funds to provide immediate assistance to businesses that were suffering financially and implemented insufficient oversight.

They then employed the money-laundering services of the arrested Israelis who bought cryptocurrency with the money and exchanged it through multiple coins to obscure the original source of the funds before eventually buying fiat currency again. Police officials declined to comprehensively explain how the system worked, but promised to provide more details soon.

 

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The hole so called state is Scheme the land was stolen from Palestinian.

Israel was chosen for laundered finances. In my opinion, not a very good decision. Everything connected with finances there is very strict and controlled very carefully.

Wen Mashinsky sdanielleon NukeGold? These Israeli citizens and residents were also associated theft and embezzlement and money laundering.

Oops users unaffected,,like always

Whyy is everyone keepinn this a secret?

Huh So you can still make money frontrunning people

🚀 Thankss a millon

Aren’t you surprised to see everyonee is silent on this

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kefen

Good job

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I find this kinda funny,I don't know why😅

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