Israel’s own Madoff arrested
23 April, 2009, 18:58
An Israeli citizen has been arrested for financial fraud. Telling wealthy Israelis stories about his past, Eli Heifetz, 34, allegedly embezzled millions, earning himself the nickname the ‘Israeli Madoff’.
![](http://www.russiatoday.com/s/obj/2009-04-23/trust.jpg)
Heifetz had all kinds of stories for his alleged victims. For some, he was an ex-Merrill Lynch analyst who works at Credit Suisse, for some, a future doctor of economics, for others, an ex-trooper, now in the secret service, despite the fact that in reality, he avoided military service due to ill health.
To the lonely women, he spoke of a potential marriage.
Meanwhile, the already-married Heifetz rented an apartment that cost him $3,000 a month, and spent money on jewelry.
Overall, his schemes worked on around 60 victims, earning some $6 million. This prompts a comparison with Bernard Madoff.
His lawyers, however, will try and change the accusation from fraud to a much softer 'mismanagement.'
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