Yeshiva World reports:
Despite warnings from rabbonim and Gedolei Yisrael Shlita to avreichim to distance themselves from risky investments, there are some who simply cannot pass up such an opportunity.
An avreich in Betar, a male in his 30s, ran an investment fund that offered investors returns on their money that cannot be matched. He managed to build a portfolio of about 9 million NIS and now, he has vanished, leaving many without a clue how to proceed.
The avreich announced he is bankrupt and has since vanished, leaving hundreds of residents wondering what to do. Ladaat adds dozens of sting victims arrived at the home asking for their investments back but the wife was unaware of the sting operation being run by her husband, explaining she has no money to give them.
Prominent community askanim and gabbaim of the local tzedaka funds are working to see what can be done to assist the victims.