200,000 shekels already traced: 26-year-old arrested on suspicion of massive fraud in Tel Aviv

A 26-year-old northern resident, currently living in Tel Aviv, was arrested on suspicion of committing fraud using stolen credit card details, purchasing products from dozens of businesses. Police estimate the fraud may amount to about half a million shekels. The Tel Aviv Magistrate's Court extended his detention until August 16. The investigation is ongoing.

A 26-year-old northern resident, currently living in Tel Aviv, was arrested on suspicion of carrying out a series of frauds using stolen credit card details, through which he purchased products from dozens of businesses. Police estimate the fraud may amount to about half a million shekels. Today (Tuesday) he was brought before the Tel Aviv Magistrate's Court, which extended his detention until August 16. The investigation was conducted covertly over the past months at the Tel Aviv North station, following information about high-value purchases made in a similar modus operandi. During the investigation, police carried out technological operations, collected testimonies from business owners, and questioned victims, until they managed to trace the suspect's identity. The investigation revealed that the suspect made purchases at chains such as Mahsanei Hashmal, A.L.M., Dream Shoes, and Opticana. At this stage, the volume of traced purchases stands at about 200,000 shekels, but police estimate that as the investigation progresses, the amount may climb to about half a million shekels. According to the suspicion, after purchasing the products using the stolen credit details, he sold them to others for cash. In this way, investigators suspect, he converted the fraudulently purchased products into cash, which he later used for personal purchases. Among other things, he allegedly bought himself brand-name clothing and luxury glasses, including Cartier items. The suspect was arrested yesterday, and a search of his home turned up many items allegedly purchased as part of the fraud, including luxury clothing, shoes, sunglasses, and computers.