Police raid alleged NIS 500 million money laundering operation

22 July 2026, 7:51 am

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Three suspects have been arrested in a sting on what police allege is a massive NIS 500 million ($164 million) money laundering ring, according to Hebrew-language media reports.

Authorities say a year-long investigation uncovered a sprawling scheme that used fictitious corporations and non-profit organizations, both in Israel and abroad, to move money around for various clients while hiding its origins, reports say.

Police and Tax authority officials raided the homes of 16 suspects on July 14, arresting the three main alleged operators of the scheme, according to reports. They have not been named.

Two of the suspects, from Kiryat Yearim and Tel Aviv, were ordered to remain in custody until Thursday, when another hearing is scheduled.