Former US undercover intelligence agent says binary options firms “brought this upon themselves via greed and deceit”
Distasteful videos,bribery, force, preconceived intent to deceive, and the FBI being all over the entire binary options business. Senior Israeli lawyer previously engaged by US federal agencies for 20 years, and represented the US government in Israeli civil litigation for 31 years talks to FinanceFeeds about the impending demise of binary options fraudsters
During the course of the past week, in the wake of the failure by the Israeli authorities to have been able to put a stop to the veritable snake pit that exists in its jurisdiction under the remit of the binary options business, the United States FBI along with magistrates and law enforcement agencies has picked up the baton and begun making arrests.
As Lee Elbaz, CEO of Yukom which operate the BinaryBook brand along with its market maker, is detained under house arrest before being ordered to appear in front of a US magistrate who will likely administer a jail sentence exceeding 20 years for wire fraud and mail fraud, a precedent is being set, and the FBI is literally, according to FinanceFeeds sources “all over the binary options perpetrators like a rash”, has all of their details and every single aspect of their business activities is under a very strong microscope.
The cavalier attitude displayed by many binary options moguls who have made an absolute fortune by defrauding members of the public by presenting false markets on rigged platforms, and aggressively calling them to gain deposits which were then banked by the binary brands instead of being traded on the market, clearly shows the absolute understanding by almost all of them, that the State of Israel would do absolutely nothing to chastise them for their actions or prevent them continuing.
Quite simply, the country is far too corrupt, and bearing in mind that many binary options leaders have been revealed to be part of huge organized crime gangs, too many hands are in too many pockets which contain a brown envelope.
The mere notion that billions of dollars is being made by ill-educated, poorly raised binary options fraudsters, along with other Israeli ruses to steal money from people overseas, when America sponsors the State of Israel to the tune of $50 billion per year which is consumed rapidly with no development to show for it, then the recipients of this ‘aid’ set up fraudulent schemes to scam the very people who pay their tax in the US to sponsor a country that cannot stand on its own two feet is nauseating.
If that is not a good reason for the US to cut it off, who knows what is.
Today, FinanceFeeds spoke to Haggai Carmon, an Israeli lawyer who is combating binary option fraud to gain his professional perspective.
Mr Carmon,was engaged by the U.S federal government for 20 years to gather undercover intelligence on a wide range of matters including counter-terrorism, is an expert in these matters.
He explained last summer that the method by which many of these firms structure their entities so that they cannot be traced resembles a high level terror or espionage organization.
The United States had sat tight, waiting for Israeli rulings, however as they amounted to pretty much nothing, action is being taken from across the Atlantic and arrests are now being made.
As FinanceFeeds reports on these matters, sticking verbatim to court records and FBI documentation, threats, verbal abuse and attempts to railroad our reporting have mounted, alluding further to the usual pattern within criminal organizations, in that many of them work together and know each other.
It is important to make it clear that FinanceFeeds will always maintain the right line and support and work closely with the genuine financial services, electronic trading and technology industry as a global resource for the B2B institutional and retail electronic trading ecosystem in its entirety. We therefore will not associate with nor tolerate pushiness from a sector that is nothing to do with the financial services industry and is creating such reputation damage globally for the genuine firms from bona fide regions.
Mr Carmon today explained to FinanceFeeds “I think that the current onslaught on the binary options companies by law enforcement agencies worldwide, was a question of time, as these companies brought it upon themselves by greed and deceit.”
He said ” There’s nothing wrong with gambling, if you tell your player what are his/her odds, and not mask it with stories about the stock market, or rig the game to tilt it in their favor, as the FBI now maintains.”
Gambling is illegal in Israel, and this law was very easy to implement when covering binary options. Israel Securities Authority Chairman Professor Shmuel Hauser managed to easily stop any binary options firm targeting its own countrymen, basically stating that any fraudulent and weighted ‘gambling’ platform being provided to an Israeli citizen would result in jail sentences for perpetrators.
This, however, did not stop them pretending to be John Smith from London, or Jacques Laurent from Paris, and targeting people from all over the world, layering their companies in such a way that although the entirety of the operations, and the market makers, software providers, sales teams, offices, were all based in Israel, the entities were registered offshore, with bank accounts in other regions, targeting customers via VPN hosted phone systems.
This meant that Israel had no jurisdiction at all. Of course, Professor Hauser knows this, and spent over a year with the Knesset Finance Committee in the central government, attempting to make new laws that would prevent all binary options firm owners from operating at all, anywhere, with international remit to stop them and prosecute globally. This was scuppered, however, as honesty is not something that prevails within Israel’s lawmakers these days.
Mr Carmon further explained today to FinanceFeeds that it is quite clear that these firms set out to defraud people in the first place, a view that is firmly held by FinanceFeeds as we fully understand that the binary options business does not in any way resemble the financial services sector, its leaders coming from other nefarious activities instead of the bona fide career path trodden by those in genuine positions within genuine companies in London, New York, Chicago or Sydney.
Far from having educated themselves via difficult internships at major institutions, followed by executive roles in large blue chip firms before spending several years in the non-bank electronic trading business in global financial centers, most of the binary options firm owners are semi-literate criminals, and operate their multi-million dollar frauds by using force and fear.
“Honest people do not hide their true identity and location if they intend to conduct fair play. Otherwise, it’s evidence of a preconceived intent to defraud. Honest gambling house pays the winners without questions asked, and does not raise a mountain of hurdles, or simply ignore withdrawal requests. And finally, there’s always the appearance” – Haggai Carmon, Senior Israeli lawyer previously engaged by US federal agencies, who has also represented the US government in Israeli civil litigation
Yesterday, FinanceFeeds reported that a bribe was offered for us to whitewash some facts relating to a notorious name within Israel as he now wishes to commence his next scheme without trace of previous ones on the internet.
The misspelled and incoherent attempt at bribery was clearly documented by FinanceFeeds yesterday.
Mr Carmon spoke to FinanceFeeds with regard to this matter, saying “Giving out expensive BMW cars to sales people who have been in their job for only three months, taking them to expensive foreign trips, or stocking the bar in the sales hall with a variety of liqueur that is only available in very few actual commercial bars is another example. This is displayed in a video made by the very same Guy Galboiz, which also carries a sign in the office saying “No Hebrew in this room!”.
Ask yourself if you would ever see a genuine institutional or retail financial services firm in London behave in this manner? Says it all really…
Here is the video. Please pass me the bucket.