Avi Itzkovich – the masquerade, fake promises and new scam projects instead of closing old debts

On May 11, 2021, Europol coordinated one of the largest cross-border operations ever conducted against Israeli-run investment fraud. Eight countries – Germany, Bulgaria, Spain, Israel, Latvia, North Macedonia, Poland, and Sweden – launched synchronized raids against a network of fraudulent trading platforms: Tradorax, TraderVC, KayaFX, Kontofx, and Libramarkets. When Bulgarian police stormed the Sofia call center serving as the operational headquarters, they did not find a dingy boiler room. Photos released by Koblenz police show a luxurious workspace with high-end furnishings. It was a stage set for deception, where young operatives, recruited from Israel with promises of high-tech careers, dialed numbers across Europe. The haul was staggering: approximately €2 million in cash, electronic devices, real estate, jewelry, and luxury vehicles. Europol estimated European investor losses at €30 million – a figure investigators believe is just the tip of the iceberg. Among those arrested was Avi Itzkovich, an Israeli-Romanian national whose name had circulated in investigative circles for years. Who Is Really Behind Avi Itzkovich? Itzkovich, now in his early fifties, spent over a decade constructing a transnational fraud network that exploited regulatory gaps across Europe. With his long-time partner Jack Wygodski, a Belgian of Israeli origin, he established Raks Media [...]

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