An Israeli man in his 30s was arrested at Rome airport after Interpol issued a warrant over his alleged involvement in a €50 million forex and cryptocurrency scam that defrauded German investors and possibly others across Europe.
Italian police detained the man during a routine passport check as he prepared to board a flight for vacation and business meetings. Authorities said the arrest was made in response to a German request regarding a network of fraudulent online investment schemes.
Investigators allege the scams targeted German citizens and potentially victims in Austria and Switzerland through fake forex and cryptocurrency platforms. The suspect reportedly worked for a large Israeli company headquartered in Cyprus, operating in Western Europe, including Germany, Austria, and Switzerland—regions heavily affected by the scam.
The arrest may lead to additional detentions of company executives and employees suspected of participating in the scheme. The man appeared in a Rome court on Tuesday, where his attorneys, Sagiv and Nir Rotenberg, argued for his release under house arrest pending an extradition hearing. Italian authorities barred him from leaving the country until a ruling on Germany’s extradition request.
European authorities are expected to examine the company’s operations and financial records as the investigation expands. The case highlights ongoing efforts by EU member states and Interpol to combat large-scale investment frauds exploiting retail crypto and forex markets.
This incident follows a similar international operation in the Philippines, where authorities arrested two Israelis and seven Filipinos allegedly running a forex trading scam, demonstrating the global reach of fraudulent investment schemes.
