Israeli-Linked Investment Scam Network Defrauds Millions from Thousands in Australia

An extensive investigation by Australian broadcaster ABC and the Organized Crime and Corruption Reporting Project (OCCRP) has uncovered an international investment fraud network called "Sapphire Network," originating from Tel Aviv. Operating since 2021, the sophisticated scam has stolen hundreds of millions of dollars from thousands of victims primarily in Australia. The network ran call centers and payment processing hubs across several countries, including Bulgaria, Ukraine, Cyprus, North Macedonia, and Israel.

The fraudsters used fake news articles mimicking the Australian Broadcasting Corporation and falsely claimed to offer AI-based trading platforms to lure unsuspecting victims. One victim, Rodger, who was awaiting surgery, lost his savings and had to take loans for medical equipment. Another, Toby, was deceived into transferring over half a million dollars after visiting a counterfeit ABC website showing fabricated profits.

The scam required an initial registration fee of about $350, paid to an Australian company named Trigo XO, which purported to sell business leadership courses but actually served as a front for money laundering. ABC's investigation found that Trigo XO's websites collapsed, and victims received only a generic 35-page PDF document.

Central to the probe is Israeli Shafi Goldberg, identified by company managers as the true controller of Trigo XO. Despite his initial denial, links were found connecting him to the scam network: Goldberg is co-manager of GoBe Marketing, a migration services firm with ties to illegal payment processing in South Africa, and sole owner of Allegiant Holdings, a Cyprus-based payment processor operating under the Smart Pay brand used by the scam to collect victim payments. Goldberg stated he is only registered with Allegiant Holdings and not involved in daily management.

This investigation adds to a series of recent international fraud exposures, highlighting the growing threat of sophisticated scams exploiting advanced technology and trusted brand impersonations. Australian authorities continue to probe the full scope of Sapphire Network's operations, which are estimated to have defrauded victims worldwide of hundreds of millions of dollars.