Leader of International Counterfeit Currency Ring Sentenced to 15 Years – Itzhak Loz, 48, of Rishon Le Zion, Israel, the leader of an internation



Department of Justice
U.S. Attorney’s Office
Eastern District of Virginia
FOR IMMEDIATE RELEASE

Leader of International Counterfeit Currency Ring Sentenced to 15 Years

ALEXANDRIA, Va. – Itzhak Loz, 48, of Rishon Le Zion, Israel, the leader of an international counterfeit currency ring responsible for over $70 million in counterfeit U.S. currency, was sentenced today to 180 months in prison for leading a RICO conspiracy involving multiple acts of counterfeiting and money structuring. Loz was also ordered to forfeit $20 million and specific assets including a warehouse in New Jersey where the counterfeit currency was most recently printed.

“Loz was the leader of a conspiracy that printed, distributed and passed over $70 million high-quality counterfeit $50 and $100 bills,” said U.S Attorney Boente. “This international criminal enterprise operated undetected for many years in Israel and the United States and relied upon a close-knit and loyal network of distributors bound by family ties, loyalty and greed. I want to commend the Secret Service and its law enforcement partners for aggressively investigating this conspiracy and supporting the prosecution of these 13 defendants.”

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“The conclusion of this case highlights the Secret Service’s investigative prowess and ability to detect one of the most prolific counterfeit notes in history,” said James M. Murray, Special Agent in Charge of the U.S. Secret Service’s Washington Field Office. “This investigation joins a long list of successful counterfeit suppressions over our 150 year history. We will continue to work closely with our network of law enforcement partners to combat criminal enterprises and protect the Nation’s financial infrastructure.”

https://www.justice.gov/usao-edva/pr/leader-international-counterfeit-currency-ring-sentenced-15-years

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