Australian Investigation Uncovers Israeli-Based Scam Defrauding Thousands of Australians

An investigative report by the Australian Broadcasting Corporation (ABC) has revealed a large-scale investment fraud network allegedly operating from Israel since 2021. The scheme, known as the Sapphire Network, reportedly defrauded over 4,000 Australians of hundreds of millions of dollars by luring victims into fake trading platforms. The network used fabricated news articles, some impersonating ABC itself, to deceive victims.

Central to the investigation is Shafi Goldberg, a 43-year-old Israeli businessman about whom little is known. He is accused of managing telemarketing sales centers across Israel, Cyprus, South Africa, Spain, and the Philippines, which also sell immigration services. The report links Goldberg to a series of shadowy companies that funneled victims' money, including the Cypriot payment company Allegiant Holdings (Smart Pay), where he is reportedly the sole shareholder, and the Australian company Trigo XO, allegedly used as a front for money laundering.

The investigation was conducted in collaboration with the Organized Crime and Corruption Reporting Project (OCCRP), Swedish media foundation Qurium, and South African investigative center amaBhungane. Leaked documents indicate the network operated from call centers in Israel, Bulgaria, Ukraine, Cyprus, and Macedonia.

Two Australian victims featured in the report lost nearly AUD 625,000 combined. One victim, hospitalized and awaiting surgery, invested AUD 125,000 in a fake platform called The FBTC and was met with excuses when attempting to withdraw funds. Despite personal pleas, the broker coldly demanded an additional AUD 5,000 investment before disappearing. The other victim was duped in early 2026 by a counterfeit website mimicking ABC’s design, transferring over AUD 500,000 to an account falsely claimed to be under his control. He was shown fake trading activity in oil and gold, with fabricated market discussions, but no real transactions occurred. He was later pressured to take loans against his home and business to cover fictitious losses.

Goldberg denied all allegations to ABC, stating he had no involvement in any fraud or payment processing and claimed Allegiant Holdings merely provides services, with no role in its management. He has not responded to requests for comment from Walla.

The report highlights the ongoing impact on victims, some of whom have lost hope of recovering their funds, underscoring the extensive reach and sophistication of the scam.