Another week has passed on the cryptocurrency and forex markets. Banks in the United Kingdom reportedly cut ties with Coinbase, and Plus500 revenues plummeted in the first half of 2019. Keep up to date with all this and more in our best of the week segment. This week, Finance Magnates reached out to the Financial Action…
Binary options fraud flourished in Israel for years before the industry was gradually outlawed by the Knesset, which first made binary options illegal only for Israeli investors. Finally, in 2017 the Knesset managed to ban the sale of binary options altogether (with a three month grace period). The legislation followed superb investigative reporting by…
Liora Welles and Shira Uzan, accused of working as sales representatives to swindle millions of dollars out of victims, plead guilty to conspiracy charges
Lissa Mel faces up to 20 years in prison for her alleged role as a ‘senior broker’ for binary options firms BigOption and BinaryBook
SEC and CFTC file enforcement claims against US-based marketers of get-rich-quick dreams who steered victims to Israel-based binary options scammers
Boasting of ‘ruining lives,’ Florida’s Michael Shah allegedly sent traffic to Israeli-run binary options sites including LBinary, TraderXP, Trade Rush, Banc de Binary, OptionRally
Local Cybercrime Unit raids offices in Angeles after citizens from New Zealand, Russia, Australia and South Africa are duped in online racket into investing huge sums of money for no gains; ‘I had to sell my house for my children.’
Agents visit platform provider SpotOption, and question binary options company owner Yossi Herzog
