The state prosecution on Thursday filed a request with the Jerusalem District Court to allow the extradition of two men accused by the US of participating in a multi-million dollar bank fraud scheme.
Aviv Mizrahi and Aryeh Greenes, both US citizens, have been charged with defrauding California banks for $33 million between 2004-2008.
The FBI has said the two fled to Israel to escape arrest.
According to a 2014 indictment filed against the pair in a Los Angeles court, Mizrahi operated several wholesale electronics companies as well as a retail store, and the two allegedly used fake financial records to obtain millions in credit from multiple banks.
Mizrahi moved to Israel in 2009 as the investigation was in progress, while Greenes relocated in 2012.
JTA contributed to this report.