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.
