The Special Prosecution of Kosovo announced on Thursday that it has filed an indictment against one Israeli national and ten other individuals suspected of organized crime, including fraud and money laundering.
The prosecution identified the suspects only by their initials and stated that the group was led by the Israeli citizen.
In a press release, the Special Prosecution said the defendants O.T., A.G., B.B., I.K., D.M., F.B., A.R., L.H., A.A., K.I., and V.K. committed “major financial fraud” from October 2018 to November 2022.
They had operated a company registered with the Kosovo Business Registration Agency, which did not hold a license for financial intermediation, according to the statement.
“At the head of the group was the defendant O.T. – an Israeli citizen, while the other defendants posed as intermediaries and deceived victims from various countries using fake identities and unregulated investment platforms, where the displayed profits were mere simulations,” the indictment reads.
The prosecution did not disclose the total financial damage caused to the victims.
However, it said that the group had promised victims high returns with minimal risk, which encouraged them to invest large amounts of money. These funds were then transferred to business accounts registered and controlled by the criminal group, with efforts made to conceal the financial trail.
All defendants are charged with organized crime and fraud, while O.T. and D.M. also face charges of money laundering.
Prosecutors have requested that the defendants be found guilty and sentenced according to the law.
According to the Kosovo Penal Code, participation in organized crime is punishable by a fine and up to seven years in prison.
Anyone who organizes, supervises, manages, or leads the activities of a criminal group may face a fine and a minimum prison sentence of 10 years.