International Fraud: Israeli-Canadian Racing Driver Detained in St. Petersburg

Israeli-Canadian racing car driver Joshua Cartu has been detained in St. Petersburg, accused of involvement in a multi-million-dollar fraudulent online stock trading scheme. The arrest follows U.S. allegations of a scam conducted between 2013 and 2018. Cartu could face extradition but Russia and the U.S. lack an extradition treaty.

An Israeli-Canadian racing car driver, Joshua Cartu, has been detained by police in St. Petersburg for alleged involvement in a fraudulent online stock trading scheme, the city's court system confirmed.

Cartu, along with his brothers and others, allegedly ran a fraudulent binary options trading scheme between 2013 and 2018, defrauding investors of millions, according to a May 2020 statement by the U.S. Commodity Futures Trading Commission. Detained on August 19 at Pulkovo airport, Cartu is identified as an Israeli-Canadian citizen 'wanted by the United States.' His arrival time in Russia remains unclear.

The court extended Cartu's detention by 72 hours on Wednesday. Reuters was unable to confirm if Cartu has legal representation. Israeli embassy officials and Global Affairs Canada confirmed consular support for Cartu. The U.S. Embassy has yet to comment. Cartu's arrest follows a major U.S.-Russia prisoner swap, further complicating international legal proceedings.

(With inputs from agencies.)