Israeli police say they’ve arrested a number of suspects accused of operating an illegal “shadow bank” based at the Ramat Gan Diamond Exchange in Tel Aviv.
Police said the suspects conducted a range of undeclared banking activities and illegally handled around a billion shekels, The Jerusalem Post reported Sunday.
“The suspects systematically laundered large sums of money … converted foreign currency, and gave illegal loans,” police said. “They made major profits, and used their offices as an undeclared bank.”
Detailed news link: here
