Former UTrade chief analyst Roy Cuzin convicted in NIS 77 million investor fraud case
The prosecution and defense will jointly ask the court to sentence Cuzin to 22 months in prison and impose a NIS 25,000 fine.
The Tel Aviv District Court has convicted former UTrade chief analyst Roy Cuzin of aiding in a fraud scheme that defrauded approximately 600 clients of NIS 77 million, according to prosecutors. Cuzin admitted to multiple counts of aggravating fraud in a plea agreement and was convicted after prosecutors filed an amended indictment detailing his role in the scheme.
He was sentenced to 22 months in prison and fined NIS 25,000. UTrade offered automated trading services, but the company's recruitment process relied on false claims and concealed important information about its operations, such as the separation of customer and company funds and potential conflicts of interest. Cuzin helped present customers with false figures about UTrade's previous investment returns, knowing they were inaccurate.
The company faced financial difficulties in 2015, and Cuzin helped owner Aviv Talmor persuade customers to accept repayment plans, even though the company was struggling to meet withdrawal requests. Talmor was previously convicted for his role in the affair and received a sentence increase in 2024. Cuzin was extradited to Israel from Mexico in January 2025 to face trial.
Written by urgent.news from Jerusalem Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
