Israeli national extradited from Bosnia over 150 million dollar Ponzi scheme

Michael Ben-Ari, also known as Michael Greenfeld, is an American-Israeli citizen accused of defrauding approximately one thousand investors in the US and Israel in a 15-year scam. The Israeli media called Ben-Ari the "Israeli Madoff", the Times of Israel reported.

Israel authorities arrested Ben-Ari in April 2021, but he fled the country using a false passport after being released for house arrest with a 625,000 dollars bond.

He was arrested in Bosnia and Herzegovina in July, according to Israeli media.

Bosnian Justice Minister approved the extradition request on Friday, after a local court rejected his appeal, so he will be brought for a hearing in custody.