The "complex" investigation "has just begun," an Israeli judge said.
The fraudsters operated fraudulent call centers in Bulgaria, Serbia, Ukraine, Georgia, Israel, and Kosovo.
Arrests by Israeli police in Ramat Gan offices of Airsoft last year; Photo: Israeli police
New details have emerged in the wide-scale crackdown in Israel against the providers of trading platforms for FX and crypto brands, in which four suspects have been arrested. Finance Magnates has learned that the raid, which included the confiscation of hardware and documents, took place in the Ramat Gan offices from which operated a fairly known industry brand: Airsoft Ltd.
In the summary of the remand custody hearings, viewed by Finance Magnates, the judge said that the "complex" investigation has just begun.
"This is a global and cross-country affair, in which suspects, under the Airsoft brand, have operated a platform that enabled defrauding investors," he said.
The 433 Lahav cyber unit and the Israel Tax Authority have signaled out two main suspects, who are suspected of anti-money laundering, fraudulent receiving under aggravated circumstances, conspiracy to commit a crime, and tax offenses.
Airsoft's logo seen on the company's desk during the raid. photo: screen shot from Ynet
Mastermind Fled
The scale of the scams was massive as it is suspected that the network provided infrastructure for fraudulent offenses to hundreds of forex offices globally and siphoned off tens of millions of euros, according to Israeli news outlet Posta.
The Massive Bust followed an investigation by German authorities against the fraudulent ring.
Despite the arrests, Jeremy Katlan, also known as Roni Hajjaj, who is allegedly the head of the criminal network, managed to escape abroad. The latest arrests by Israeli authorities from the forex office in Ramat Gan include a family member of Katlan who is suspected to be managing the venue jointly. The CEO of that office was also arrested.
The suspects allegedly contacted victims globally through sales representatives who presented themselves as traders of forex, cryptocurrencies, and other financial instruments. They even operated fraudulent call centers in Bulgaria, Serbia, Ukraine, Georgia, Israel, and Kosovo.
Victims were lured in with promises of high returns. The fraudsters even presented falsified documents of the investment scams. However, in reality, the fraudsters never invested the collected proceeds from the investors. The fraudsters also transferred the victims' funds to bank accounts in Germany, the Czech Republic, and Hungary.
The German authorities were involved as they were the first to identify five groups that have been operating since 2018 and linked to the larger ring.
New details have emerged in the wide-scale crackdown in Israel against the providers of trading platforms for FX and crypto brands, in which four suspects have been arrested. Finance Magnates has learned that the raid, which included the confiscation of hardware and documents, took place in the Ramat Gan offices from which operated a fairly known industry brand: Airsoft Ltd.
In the summary of the remand custody hearings, viewed by Finance Magnates, the judge said that the "complex" investigation has just begun.
"This is a global and cross-country affair, in which suspects, under the Airsoft brand, have operated a platform that enabled defrauding investors," he said.
The 433 Lahav cyber unit and the Israel Tax Authority have signaled out two main suspects, who are suspected of anti-money laundering, fraudulent receiving under aggravated circumstances, conspiracy to commit a crime, and tax offenses.
Airsoft's logo seen on the company's desk during the raid. photo: screen shot from Ynet
Mastermind Fled
The scale of the scams was massive as it is suspected that the network provided infrastructure for fraudulent offenses to hundreds of forex offices globally and siphoned off tens of millions of euros, according to Israeli news outlet Posta.
The Massive Bust followed an investigation by German authorities against the fraudulent ring.
Despite the arrests, Jeremy Katlan, also known as Roni Hajjaj, who is allegedly the head of the criminal network, managed to escape abroad. The latest arrests by Israeli authorities from the forex office in Ramat Gan include a family member of Katlan who is suspected to be managing the venue jointly. The CEO of that office was also arrested.
The suspects allegedly contacted victims globally through sales representatives who presented themselves as traders of forex, cryptocurrencies, and other financial instruments. They even operated fraudulent call centers in Bulgaria, Serbia, Ukraine, Georgia, Israel, and Kosovo.
Victims were lured in with promises of high returns. The fraudsters even presented falsified documents of the investment scams. However, in reality, the fraudsters never invested the collected proceeds from the investors. The fraudsters also transferred the victims' funds to bank accounts in Germany, the Czech Republic, and Hungary.
The German authorities were involved as they were the first to identify five groups that have been operating since 2018 and linked to the larger ring.
Retail Trading & Prop Firms in 2025: Five Defining Trends - And One Prediction for 2026
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
