{
  "id": 2172478,
  "title": "Israeli investment fraud scam defrauds over 4,000 Australians out of millions of dollars - report",
  "url": "https://urgent.news/2026/08/20/israeli-investment-fraud-scam-defrauds-over-4-000-australians-out-of",
  "topic": "world",
  "section": "World",
  "published": "2026-08-20T16:24:48.000Z",
  "source": {
    "name": "Jerusalem Post",
    "slug": "jerusalem-post",
    "url": "https://www.jpost.com/diaspora/article-906140"
  },
  "original_language": "en",
  "account": "An extensive ABC investigation has revealed an investment fraud scheme operating from Israel since 2021, allegedly defrauding over 4,000 Australians of millions of dollars. The fraud network, known as the Sapphire Network, employed misleading advertisements, including news articles resembling ABC reports, to entice victims into trading on fake platforms. The mastermind behind the scam is 43-year-old Israeli businessman, Shefi Goldberg, whose background remains largely unknown. Goldberg allegedly orchestrated telemarketing sales centers in multiple countries, selling services like immigration assistance.\n\nThe investigation traced the money's flow through a complex network of shell companies, including a Cyprus-based payment processing firm, Allegiant Holdings, and an Australian entity, Trigo XO, which served as a money laundering front. Goldberg is the sole shareholder of Allegiant Holdings, and Trigo XO allegedly facilitated the transfer of funds to the fraudsters.\n\nTwo Australian victims detailed in the report lost nearly $625,000 combined. One victim, who was hospitalized awaiting surgery, lost $125,000 after investing through a fraudulent platform called The FBTC. When attempting to recover his funds, the broker coldly suggested investing more money, ignoring his plea for assistance with medical expenses and holiday gifts for his children. The second victim was directed to a fake website mimicking ABC, leading him to transfer over $500,000. He was convinced the money was growing due to trades in oil, gold, and market fluctuations, but in reality, no legitimate trades occurred. The broker pressured him to take out home and business loans to cover the fabricated debts.\n\nGoldberg denies any involvement in fraud, claiming he did not commit any wrongdoing and had no connection to the implicated companies. He states Allegiant Holdings is merely used to provide services, and he is not managing or involved in the day-to-day operations. Despite the victims' persistent efforts to recover their losses, Goldberg maintains his innocence and asserts he was not managing the funds.",
  "summary": "Mysterious Israeli businessman Shefi Goldberg claimed he had not committed any fraud or been involved in such activity, adding that he had no connection to the companies named in the investigation.",
  "key_points": [
    "Over 4,000 Australians defrauded of millions by Israeli investment scam since 2021",
    "Sapphire Network operated fake platforms using misleading ads and telemarketing",
    "Allegiant Holdings and Trigo XO facilitated money flow through shell companies"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}