“Israeli” racing driver detained in St. Petersburg on US fraud charges

In St. Petersburg, Russian authorities detained Josh Cartu, an “Israeli”-Canadian racing car driver, who the US seeks for his alleged involvement in a large-scale fraud scheme, Middle East Monitor reported.

Cartu along with his brothers David and Jonathan and several others are accused of orchestrating a fraudulent binary options trading operation between 2013 and 2018 that reportedly defrauded investors of millions of dollars, as confirmed by the US Commodity Futures Trading Commission (CFTC).

Cartu was apprehended on Monday at Pulkovo Airport, according to the St. Petersburg court system.

The court identified him as a dual citizen of “Israel” and Canada and confirmed that he is "wanted by the United States of America."

On Tuesday, the court extended Cartu's detention by an additional 72 hours.

The court noted that Cartu could face charges under Russia’s fraud statute, which carries a potential prison sentence of up to 10 years.

It was reported that Cartu does not have a permanent residence in St. Petersburg and possesses a foreign passport, which might facilitate his travel across borders and complicate extradition efforts.

Currently, there is no extradition treaty between Russia and the US, which could impact the process of his potential extradition.

In addition to the charges in the US, Cartu faces separate accusations in Canada related to a similar fraudulent binary options scheme targeting investors in Ontario, according to a statement from the Ontario Securities Commission in September 2020.