Former UTrade Analyst Convicted of Large-Scale Investment Fraud

The Tel Aviv District Court has convicted Roi Kuzin, the former chief analyst at the investment platform UTrade, of large-scale fraud, marking the conclusion of a significant financial case. Kuzin pleaded guilty to multiple counts of obtaining property by deception under aggravating circumstances as part of a plea deal with the prosecution. The case involved UTrade defrauding approximately 600 clients out of roughly 77 million shekels (about $21 million USD) between 2012 and 2015.

Prosecutors alleged that UTrade promised investors stable returns through an innovative automated trading system powered by complex algorithms. However, Kuzin, who had direct access to client accounts and controlled the trading robot, knew that the reported profits were fabricated. Instead of investing the funds, the company used client money to cover its operational expenses and financial shortfalls.

When UTrade faced a severe liquidity crisis and collapsed in 2015, management attempted to conceal the extent of the disaster. Kuzin assisted the company's owner, Aviv Talmor, in persuading clients to sign restructuring and debt repayment agreements. Investors were told that payment delays were due to temporary technical issues, while the company was actually insolvent.

Aviv Talmor, the company's owner, was previously found guilty in this case and sentenced to five years in prison and a substantial fine.