Ashdod Man Arrested for Allegedly Failing to Report $13 Million in Digital Currency Trades
Translated & summarized from Behadrei Haredim by baba
Alexander Putchinsky, a resident of Ashdod and a business owner, was arrested by the Israel Tax Authority on suspicion of not reporting $13 million in income from digital currency trading between 2019 and 2021. He was released under restrictive conditions.
The story in 4 lines · by baba
- Ashdod resident arrested for alleged failure to report $13 million in crypto income.
- Israel Tax Authority suspects funds were moved to conceal their origin.
- Investigation involves Binance exchange and seized digital wallets.
- Suspect was released by a Jerusalem court under restrictive conditions.
An Ashdod resident, identified as Alexander Putchinsky, who manages and co-owns a manpower company, has been arrested on suspicion of failing to report approximately $13 million in income from digital currency trading. The investigation was initiated by the Israel Tax Authority after suspicions arose that Putchinsky was not reporting his full income. According to a bail release request, Putchinsky began trading digital currencies in 2019 using several digital wallets.
During the investigation, the Tax Authority received identification documents from the Binance exchange that linked Putchinsky to an account where trading activities totaling around $13 million occurred between 2019 and 2021. Tax Authority officials suspect that funds withdrawn from the account were moved through multiple wallets owned by Putchinsky and then to additional wallets in an attempt to conceal them.
A search of his home resulted in the seizure of computer materials and digital wallets. While examining the seized materials, investigators discovered the address of another digital wallet. The Jerusalem Magistrate's Court released Putchinsky today under restrictive conditions. The investigation is being conducted by the Jerusalem and Southern Investigations Income Tax Officer, with the case being handled by the Crypto Department within the Intelligence Directorate of the Tax Authority's Investigations division.
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