Israelis Charged in $129 Million Global CEO Fraud Scheme
Translated & summarized from Behadrei Haredim by baba
Three suspects, including Israelis Sharon Hazan and Guy Shitrit, have been indicted in the U.S. for a global fraud scheme that stole $129 million. Operating for 18 months, they used AI to impersonate CEOs and lawyers, targeting thousands of companies. The suspects, arrested between June and September, face up to 22 years in prison if convicted.
The story in 6 lines · by baba
- Three suspects, including Israelis Sharon Hazan and Guy Shitrit, were indicted in the U.S. for a $129 million fraud.
- The sophisticated scheme impersonated CEOs and lawyers using AI to trick companies into transferring funds.
- Thousands of companies were victimized globally over an 18-month period.
- The suspects operated from bases in Spain, the UK, Israel, and the UAE.
- Sharon Hazan has a prior conviction for conspiracy to commit bank fraud from 2008.
- Convicted suspects face up to 22 years in prison for fraud and identity theft charges.
Three individuals, including Israelis Sharon Hazan, 54, and Guy Shitrit, 42, along with Jacob Suele, 41, have been indicted in the United States on charges of wire fraud, aggravated identity theft, and money laundering. According to the indictment filed in a New York federal court, the trio allegedly orchestrated a worldwide fraud campaign for approximately 18 months, stealing around $129 million from thousands of companies. Their victims spanned various sectors, including hospital networks in Missouri and California, a bank in Rhode Island, a UK fintech firm, a Massachusetts mutual fund company, and a pet food manufacturer in Florida. The suspects operated from bases in Spain, the UK, Israel, and the UAE.
The sophisticated "CEO fraud" scheme employed advanced technology. Using aliases like "Rocky Balboa," "Superman Cash," and "Fat Boy," they targeted corporate accounting departments. The operation involved sending emails impersonating CEOs, requesting urgent assistance with confidential financial transactions. To enhance credibility, they arranged phone and video calls where AI technology was used to mimic the CEO's voice and sometimes even appearance. The fake CEO would then instruct an employee to contact a lawyer, also impersonated by the network members. Suele reportedly often played the role of British lawyers, using a prepared script to sound professional.
The "lawyer" would then direct employees to transfer large sums via bank wire to accounts globally. These funds were subsequently converted into cryptocurrency to obscure their trail and distributed among the gang members. The three suspects were arrested between June and September of this year. Notably, Sharon Hazan has a prior conviction from 2008 in New York for conspiracy to commit bank fraud.
James Barnacle Jr., Assistant Director of the FBI, commented on the case, highlighting how advanced technology is weaponized for large-scale fraud. He stated that as criminals continue to weaponize emerging technologies, the FBI remains committed to adapting its capabilities to detect, investigate, and thwart those who aim to harm businesses and citizens. If convicted, each count of fraud and money laundering carries a maximum sentence of 20 years imprisonment, with an additional two years for identity theft.
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