Israeli Regulator Probes 200 Million Shekel Fraud in Ethiopian Gold Mining Scheme
How 2 Israeli newsrooms covered this story — translated into English and compared side by side.
First reported by Behadrei Haredim · 6 hours ago
What happened
Israeli authorities are investigating businessman Chaim Leib Kaplan for allegedly defrauding ultra-Orthodox investors of over 200 million shekels in a fraudulent Ethiopian gold mining scheme. Despite orders to stop fundraising, Kaplan continued soliciting investments, leading to a public probe and raids. Many investors, including those who mortgaged homes, face severe financial losses.
- 01Israel Securities Authority investigates Chaim Leib Kaplan for over 200 million shekel fraud.
- 02Kaplan promised doubled returns from Ethiopian gold mining but ran a Ponzi scheme.
- 03219 ultra-Orthodox investors, some mortgaging homes, were defrauded between 2018-2026.
- 04Kaplan ignored a February 2026 order to stop fundraising without an approved prospectus.
- 05Authorities detained Kaplan and raided offices amid concerns over investor fund misuse.
- 06The case exposes severe financial and personal hardship for affected ultra-Orthodox families.
Summary translated & synthesized from the sources below by baba. Read each original for the full report.
Full coverage · 2 outlets
The same event, reported separately by each newsroom. Open a few to compare what each emphasizes — and what they leave out.
