Four people have been arrested and 50 people detained after Israeli cyber unit Lahav 433 raided an as-yet-unnamed forex company office in the city of Nazareth.

The four managers, all Nazareth residents, along with the 50 employees are alleged to have operated a forex call centre targeting Arabic-speaking clients in the Middle East. Nazareth is a predominately Arab-speaking city in the central Galilee region of Israel.

According to local reports, Police raided the premises having previously arrested one of the suspects at a police checkpoint having been found with a substantial amount of cash in his car. Following a lengthy police investigation, the suspect was arrested on Wednesday morning along with the other managers and employees.

Additionally, computers, phones and large sums of foreign currency were seized in the raid.

Those arrested are alleged to be behind defrauding a number of investors in the Gulf Region out of millions of dollars.

Attorneys from the Noy Sennes Sperling Courtyard law firm who represents the main unnamed suspect responded to his arrest by saying: “Our client has nothing to do with [these] things. This is scandalous conduct by the police, who chose to arrest a respected businessman."

Four people have been arrested and 50 people detained after Israeli cyber unit Lahav 433 raided an as-yet-unnamed forex company office in the city of Nazareth.

The four managers, all Nazareth residents, along with the 50 employees are alleged to have operated a forex call centre targeting Arabic-speaking clients in the Middle East. Nazareth is a predominately Arab-speaking city in the central Galilee region of Israel.

According to local reports, Police raided the premises having previously arrested one of the suspects at a police checkpoint having been found with a substantial amount of cash in his car. Following a lengthy police investigation, the suspect was arrested on Wednesday morning along with the other managers and employees.

Additionally, computers, phones and large sums of foreign currency were seized in the raid.

Those arrested are alleged to be behind defrauding a number of investors in the Gulf Region out of millions of dollars.

Attorneys from the Noy Sennes Sperling Courtyard law firm who represents the main unnamed suspect responded to his arrest by saying: “Our client has nothing to do with [these] things. This is scandalous conduct by the police, who chose to arrest a respected businessman."