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…
Read moreUK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company BigOption. BigOption is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which require authorisation:…
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More than six months after she was arrested and placed under house arrest after disembarking a plane from Tel Aviv to New York at JFK airport, former Binary Options executive Lee Elbaz is now formally facing an indictment. The U.S. Department of Justice has announced that Ms. Elbaz, the former CEO of Israel-based company Yukom…
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After we reported last week that the FBI had sent investigators to Israel as part of their ongoing fraud investigation of Lee Elbaz, former CEO of several Binary Options broker brands, Israel business news website TheMarker has reported that those FBI investigators last week raided the offices of leading Binary Options platform provider SpotOption. Lee Elbaz…
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Canadian securities regulator the British Columbia Securities Commission (BCSC) has issued a warning to investors regarding binary options broker BigOption (at website bigoption.com), operated by Wirestech Limited. Most of warnings of this type involved unauthorized advertising to or contact with retail investors in Canada by unlicensed brokers, and this one is no different. According to the…
Read moreCanada's largest provincial financial regulator, the Ontario Securities Commission (OSC), has issued three new investor warnings against unlicensed binary options brokers. The OSC typically issues warnings regarding unlicensed companies that appear to be engaging in activities that may pose a risk to investors in its jurisdiction, and which are apparently targeting Canadian traders. The OSC's updated…
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