The order also resolves a CFTC enforcement case from October 2019, which found that Szatmari and a business partner created and disseminated fraudulent solicitations that led 25,000 customers to open and fund trading accounts that generated $3.8 million in fees for Szatmari and his partner, while customers lost most or all of their funds. The…
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The CFTC claims that the Cartu and Peretz brothers directed individual brokers to solicit US customers with falsely represented financial expertise, compensation structure, physical location and identity. The brokers also mislead their customers that the offered binary option transactions were profitable, when in reality, the majority of customers lost money. Ryan Masten of Austin, Texas…
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At the time of the verdict, the court did not order restitution but allowed the government leave to gather evidence and determine the amount. In addition to the Spot Option database which the government exclusively relied for information on the fraudulent activities, it now added declaration of Michael J. Petron, a certified public accountant and…
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The Commission alleged that the defendants created fraudulent marketing materials promising monumental profits with no risk of loss and distributed them via email spam and by making online videos. CFTC alleges that the scheme continued from at least October 2013 through August 2018. As a result of the fraudulent marketing campaign, more than 59,000 customers…
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The Federal Court found One Tech Media Ltd, (OTML), Allianz Metro Pty Ltd, Eustace Senese and Yoav Ida in breach of the Corporations Act for pressure sale of binary options. The Seychelles-based company OTML was caught trading binary options without Australian Financial Services Licence (AFSL) and without providing the necessary product disclosure statements. Justice Davis…
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The Securities and Exchange Commission (SEC) announced yesterday that it has charged three foreign individuals with deceiving U.S. investors, causing them to lose millions of dollars and entire life savings through fraudulent, online sales of binary options. The defendants Gil Beserglik, Raz Beserglik and Kai Christian Petersen, deceived the investors through 3 online binary options…
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The Cyprus regulator CySEC announced that it has reached a settlement with the company Banc De Binary Ltd. for violations of The Investment Services and Activities and Regulated Markets Law of 2007. The settlement reached with Banc De Binary Ltd. is for the amount of €300.000 and has already been paid by the company. CySEC…
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EU securities markets’ regulator ESMA has just informed the public of its decision that it will not renew the temporary prohibition of the marketing, distribution or sale of binary options to retail clients in the European Union (EU). The complete text of ESMA's decision reads as follows: ESMA has taken product intervention measures regarding binary…
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The Autorité des marchés financiers (AMF) has issued a public warning against the activities of the website www.flexioptions.com. The AMF is publishing a list of new websites offering binary options trading, for which no authorized investment services provider could be clearly identified and has just added its latest warning. A list of all unauthorized websites…
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The Cyprus regulator CySEC has informed investors that the website smartoptionfx.com, does not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities, as provided for in Article 5 of Law 87 (I)/2017. In the above mentioned website, there is a reference on…
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