Exclusive: Israeli Binary options fraudster Lee Elbaz arrested in America, faces 20 years in jail

Israeli binary options fraudster Lee Elbaz of BinaryBook, a brand of Yukom, is to appear before US magistrates today at 11,00am, facing a 20 year jail sentence for wire fraud among other alleged felonies

Lee Elbaz, a/k/a Lena Green, CEO of Yucom, the operator of BinaryBook in Israel, was arrested by the Federal Bureau of Investigations (FBI) at John F Kennedy airport in New York on September 14 upon arrival from Israel.

According to legal records obtained directly by FinanceFeeds from the government, Ms. Elbaz is currently in custody and is expected to appear in a bail hearing before U.S Magistrate Cory Jacobs at the Eastern District of New York (Brooklyn) at 11:00 (EST) today supporting the arrest warrant which was granted.

The FBI alleged violations of 18 USC 1343 (Wire Fraud) and 18 USC 1349 (Conspiracy to Commit Wire Fraud.)

Each count carries a potential maximum 20 years in prison. At this time it is unknown whether bail would be set as Elbaz has no connection to the community and therefore poses a flight risk. She is represented by Jonathan Lopez, Esq.

Aside from the deplorable nature of the fraudulent binary options ruse which has created tremendous damage to the reputation of the genuine retail FX industry worldwide, and has been largely orchestrated by Israeli fraudsters who have absolutely no background whatsoever in the financial markets industry, but instead hail from gambling, affiliate marketing and lead recycling (in some cases stealing), the nature of the beast is that weighted platforms which falsely present financial instruments which have no live market are forcefully sold to unsuspecting retail customers resembles a boiler room.

Indeed, Yukom, otherwise known as BinaryBook, invited Jordan Belfort, a convicted criminal and former boiler room operator,

The daily operations at the firm are run by 35-year-old Ms Elbaz. Yukom does not deny when approached by mainstram British media last year that Ms Elbaz was one of those who attended the talk.

Daniel, a whistleblower who says he worked for Yukom in 2015, says staff advised customers on trading strategies, carried out deals and managed customer accounts.

He told the Daily Mail last year that Yukom workers also had a major say over whether clients could withdraw their cash. ‘When a client places a withdrawal [request] your job as a rep is to discourage that from happening,’ he says.

‘If the client is really difficult, they get forwarded to the brand manager. The brand managers get bigger salaries if they persuade customers to stay.’

On their profiles on Facebook and business networking site LinkedIn, staff at both Linkopia and Yukom describe themselves as brokers and account managers.

However, the firms insist their staff have no say whatsoever on whether customers can withdraw cash. They say BinaryBook has performed more than 19,500 withdrawals in the past 12 months, processing each within 24 hours.

Both Linkopia and Yukom are owned by the same man — a 52-year-old Israeli with a history of working for “you against the house” entities in Israel, called Yossi Herzog — and also provide services to other binary trading firms.

Indeed, whilst Israel’s corrupt government is allowing brown envelopes to dictate the safe future of binary options fraudsters, America’s upstanding legal system will not tolerate it. And quite right too.

Read this next

Digital Assets

LMAX Digital onboards Bryan Christian and Cassandra Cox to lead sales

Institutional cryptocurrency exchange LMAX Digital continues to undergo a series of changes in its top ranks as it continues to build its presence globally. Two industry veterans, Bryan Christian and Cassandra Cox, have joined the group as its newest sales directors in Europe and USA.

Digital Assets

Cake DeFi introduces Ethereum Staking with 5% returns

Cake DeFi, a Singapore-based DeFi platform, is launching its Ethereum (ETH) staking service for retail and institutional customers.

Retail FX

FX trading rebounds 405pct at Saxo Bank in September

In a volatile market driven by Russia-Ukraine headlines, FX trading volumes through Saxo Bank have rebounded strongly in September to the highest level in three months.

Retail FX

CMC Markets’ stock climbs as H1 revenue to climb +20%

CMC Markets PLC (LSE:CMCX) shares spiked 5.6 percent to 235p in Thursday’s trading after the firm’s trading update for the first half of its fiscal year 2023 revealed results at the high end of company projections.

Retail FX

Interactive Brokers doubles client accounts to 2 million in 24 months

Electronic brokerage firm Interactive Brokers LLC (NASDAQ:IBKR) said its trading volumes took a slight step back in September, an indication that investor confidence is still fairly mixed over the past few months.

Digital Assets

DeFiChain tokenizes Walmart, Unilever, US Oil and Gas Funds

Bitcoin-based DeFi platform DeFiChain is opening up the opportunity for its users to trade crypto versions of Walmart, Unilever, US Oil Fund, and US Gas Fund.

Industry News

The B2Broker B2Core REST API Is Now Live

B2Broker has announced the release of its new REST API, which lets customers use B2Broker’s solutions and services for business purposes.

Executive Moves

CME Group taps Paul Woolman to lead Equity Index, Giovanni Vicioso to lead Crypto

“Our equity and cryptocurrency businesses have experienced tremendous growth in recent years, underpinned by strong customer adoption and continued innovation.”


Sumsub launches document-free KYC for users in India, Brazil, Nigeria and Indonesia

Sumsub has launched one click-KYC for users in India, Brazil, Nigeria and Indonesia in a move that allows businesses to instantly onboard over 2 billion users without requesting their ID documents.