/08/10 · Court orders binary options fraudster Lee Elbaz to pay $28m in restitution August 10, am UTC, Maria Nikolova The estimated loss attributable to transactions involving Yukom, Numaris, or Linkopia agents is over $ million but the US Government has sought only a conservative restitution amount of $28 million. As Finance Magnates reported, Chuang determined that Lee Elbaz, the former CEO of Israel-based Yukom Communications, should pay $28 million in restitution for her participation in a $ million fraud scheme carried out by Israeli-run binary options websites. $28 million restitution was a . /08/25 · As Finance Magnates reported, Chuang determined that Lee Elbaz, the former CEO of Israel-based Yukom Communications, should pay $28 million in restitution for her participation in a $ million fraud scheme carried out by Israeli-run binary options websites.
Binary Options Fraudster Lee Elbaz Appeals $28 Million Restitution Order
US District Judge Theodore Chuang told Elbaz, 38, that her actions cost vulnerable investors their life savings, homes and even their marriages. The government has 90 days to find more victims, which may raise the restitution amount. Elbaz, binary options lee elbaz, who has been in jail since her conviction in August, was brought to the court in an orange jumpsuit.
She sobbed intermittently throughout the hearing, and grasped the arm of one of her attorneys as the judge announced the sentence. She is one of 21 indicted defendants who worked for Yukom, binary options lee elbaz, which operated the websites BigOption and BinaryBook, and was the first to be tried.
All but Mel testified at the Elbaz trial on behalf of the prosecution, saying that Elbaz instructed them to lie to investors in order to get them to deposit as much money as possible, and to do everything possible to prevent them from withdrawing their funds. Fifteen additional defendants were indicted in November. Binary options lee elbaz Roytman, binary options lee elbaz, the head of Numaris Communication, entered a non-prosecution agreement with the US government.
An email instructed BinaryBook sales representatives to target retirees, Social Security recipients, pension holders and veterans as clients, according to court filings accompanying guilty pleas by former employees.
Justice Department prosecutor Henry Van Dyck said most of the victims lost everything they invested. He said that videos from inside Yukom showed that binary options lee elbaz enjoyed their work, and that Elbaz fostered a work environment where it was fun to defraud investors. He also borrowed 30, for his investment and afterwards had to refinance his home.
The judge said that Elbaz and others specifically targeted vulnerable people, including the elderly, and tried to get people addicted to trading like in a casino. He said that Elbaz would suggest that clients use their retirement funds for investments.
Herzog and Cohen, binary options lee elbaz have both been indicted, are still at large. Pollack had asked for a sentence of five years in prison for his client. Many of the fraudulent operatives have since moved their operations abroad, or switched to other scams, though Israeli law-enforcement authorities have proved unwilling or unable to prosecute more than a handful of alleged offenders.
By contrast, the US government is ratcheting up efforts to bring Israeli offenders to justice. Make the year you understand Israel and the Jewish world much better with a Times of Israel Community membership. So now we have a request. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
Lee Elbaz, an Israeli woman convicted in August for binary options fraud, enters the Greenbelt, binary options lee elbaz, Maryland courthouse on July 25, Resolved: Learn more about Israel and the Jewish World. View comments Hide comments.
Israel outlaws binary options scam industry
, time: 5:00FBI arrests Israeli binary options CEO as she disembarks El Al flight at JFK | The Times of Israel
An employee and binary options sales agent for the company, Israeli citizen Lee Elbaz was sentenced to 22 years in prison in December. She operated from a call centre. US District Judge Theodore Chuang told Elbaz, 38, that her actions had cost vulnerable (mostly elderly) US investors their life savings, their homes and even their marriages. As Finance Magnates reported, Chuang determined that Lee Elbaz, the former CEO of Israel-based Yukom Communications, should pay $28 million in restitution for her participation in a $ million fraud scheme carried out by Israeli-run binary options websites. $28 million restitution was a . /10/17 · Lee Elbaz, the former CEO of Yukom Communications, a company at the heart of a large-scale binary options scams, has secured more time to file her opening brief as she appeals from her sentencing. The appeal case was launched in January at the Fourth Circuit U.S. Court of Appeals but Elbaz has not yet submitted the brief and appendix that.
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