Greek police arrested an Israeli man at an airport in Thessaloniki last month on charges of defrauding mom-and-pop investors out of over a million euros.
The man, identified by a Greek journalist who attended a pre-trial hearing as Ori Nagar, was arrested on August 24 on a warrant obtained by prosecutors in Bamberg, Germany, who have requested his extradition to there.
Nagar, a 37-year-old resident of Cyprus, allegedly personally caused 1.4 million euros in losses to victims in Germany and around the world, according to Greek media reports.
He was visiting Greece when he was arrested. Bamberg prosecutors have not commented publicly on the arrest.
According to reports, Nagar was allegedly a leading member of a ring that defrauded victims via phone and email, urging them to invest money in various financial instruments by promising high profits.
The gang allegedly appropriated funds deposited by the victims and distributed them through a complex money-laundering network.
Hundreds, if not more, Israelis have moved abroad in recent years to work in call centers selling fraudulent or high-risk financial instruments, such as binary options, forex, CFD and cryptocurrencies.
Nagar’s Tel-Aviv-based lawyer Amit Bahar did not respond to The Times of Israel’s request for comment prior to publication.
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