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Friday, May 26, 2000
Copyright © Las Vegas Review-Journal

Diamond dealer arrested


     Associated Press
     
BERN, Switzerland -- An Israeli diamond dealer accused of defrauding suppliers of $8 million has been arrested in Las Vegas, police said Thursday.
      Moshe Regev, also known as Moshe Regenstreich, was arrested by police last week and is being held in custody pending an official extradition request from Swiss authorities, Bern state police said in a statement.
      According to the statement, between 1993 and 1995 Regev was chairman of two companies -- UCCB AG and Diamond Club AG -- in the Swiss town of Lyss.
      During that time he is alleged to have received diamonds that were never paid for and used transfers between the two companies to siphon off money.
      The companies collapsed in March 1995, and Regev left the country. An international arrest warrant was issued for him in 1998, and he had not been heard from until his arrest in Las Vegas, police said.


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