Israeli investment fraud scam defrauds over 4,000 Australians out of millions of dollars – report

An investigation by the Australian Broadcasting Corporation (ABC) has uncovered the "Sapphire Network," an alleged Israeli-operated investment fraud scheme that has reportedly defrauded over 4,000 Australians of hundreds of millions of dollars since 2021. The network used fake news articles, including fabricated ABC reports, to direct victims to fictitious trading platforms. Israeli businessman Shefi Goldberg, 43, is central to the investigation, accused of running telemarketing sales centers globally and being linked to a chain of companies, including Cyprus-based Allegiant Holdings (Smart Pay) and Australian company Trigo XO, allegedly used for money laundering. Two Australian victims lost nearly $625,000 combined, with one being told by a broker, "Sorry to hear that. If you can manage to get the 5,000 [additional dollars to invest]… that would be perfect," when he pleaded for his money to cover medical bills. Goldberg denies all accusations of fraud and any involvement with the companies mentioned, stating he is "not involved in processing such payments" and is only registered with Allegiant Holdings without being involved in its management.