Israel Exchange Raided Again by Police
January 18, 12
(IDEX Online News) – The Israeli police are again in the Israel Diamond Exchange complex. The on going police investigation is causing a disruption in the daily trading at the exchange.
On Wednesday morning, police investigators raided at least one office at the exchange and according to sources, made an arrest.
This is the second police raid in a week. Sixteen people were arrested on January 8, after a year-long undercover investigation by police and tax authorities. Among the arrested people is a moneychanger that police suspect is the key figure in what it dubbed an illegal banking operation.
The 16 are allegedly involved in money laundering, banking and tax related crimes estimated at billions of shekels that generated large unreported profits.
The mood in the diamond exchange is low, with many traders preferring to avoid coming to the exchange for fear of being "picked up" by police. This following rumors that police officers walking the exchange corridors have stopped people at random, asked to see IDs and then searched their offices.