Two Israelis Accused of $129 Million AI-Powered CEO Fraud Scheme in US

Two Israeli nationals, Sharon Hazan and Guy Shitrit, along with a Spanish-British man named Jacob Stoll, are at the center of a massive fraud scheme in the United States. The trio allegedly used artificial intelligence to impersonate senior executives, including CEOs, and defrauded companies worldwide of over $129 million in the past two years. According to the indictment unsealed in New York, they targeted employees in positions of authority to approve bank transfers.

The sophisticated scam involved using AI to mimic the voices of executives and even lawyers. These impersonated figures would then instruct employees via phone or video calls to transfer large sums of money to bank accounts controlled by the defendants. Prosecutors stated that the transactions were entirely fraudulent, and the employees were deceived into believing they were speaking with legitimate company leaders or legal counsel.

Hazan and Shitrit were reportedly responsible for money laundering, with Hazan boasting about being the "number one in the world" at the practice. Stoll, who allegedly used the alias "Rocky Balboa," is said to have written the scripts for the fake legal consultations. The group's actions included defrauding a British fintech company of over $11.5 million and stealing more than $5 million from a Florida-based pet food company.

U.S. Attorney Jamie McDonald for the Southern District of New York warned the public about this emerging threat. Hazan was arrested in Spain in August and Shitrit in Britain in September. Both are awaiting extradition to the U.S. to face charges including wire fraud, aggravated identity theft, and money laundering, which carry potential sentences of decades in prison if convicted.