Eliran Saada of Express Target Marketing, which has operated the SecuredOptions and InsideOption binary options brands was arrested and is now in front of a magistrate for fraud and making threats, something quite common among binary options brand owners
Today, FinanceFeeds reported that the crackdown on illicit binary options fraud has begun as Israel’s Police swoop and begin arrests.
A 38 year old binary options brand owner was arrested in Tel Aviv on account of fraud, blackmail, making threats and operating a false trading system – basically the exact ethos of what binary options is all about.
This particular individual is currently appearing at the Tel Aviv Magistrates court to face the music, however FinanceFeeds can now reveal who it is, and which company he represents.
The person in question is Eliran Saada, who owns Express Target Marketing, which has operated the SecuredOptions and InsideOption binary options brands.
Although not one of the larger culprits in this sector, his alleged behavior that resulted in these allegations being made by the Israel Police against him is in line with a large number of binary brands and their less than reputable owners.
Tel Aviv District Police launched an undercover investigation that lasted several months, culminating in Monday’s arrest of Mr Saada, following a complaint to the police by a Singapore-based lady.
Indeed, FinanceFeeds is well aware that in some cases, 75% of revenues of some binary options market makers and several of their brands comeillegally from the United States. When FinanceFeeds raised this issue with those concerned, a threat of violence was made (and recorded).
Last year, FinanceFeeds reported that the Israeli and French police and authorities were working together in order to find and prosecute 15 fraudsters which had been on the boards of directors of several firms in Israel, those being 4XP, BForex, Sisma Capital, Tradaxa and Aston Invest, all of which the French government believe to be involved in a massive scam operation that took an average of €210,000 from each victim in France.
The companies involved conducted their business in the usual fashion that is adopted by those who live from the losses of their clients and have deliberately set their firm up to take deposits, then rig the trading platform and never send orders to the markets in order to effectively steal from their customers before cutting and running.
The majority of the firms involved were structured in a way in which a holdings company is operated as a ‘service provider’ based in Israel, which then provides outsourced services to a sales desk, also in Israel but under a different name, and then registers its operations in the British Virgin Islands or a similar offshore region, and targets customers across the world but not in Israel itself, where the owners of the companies live.
Most of these firms have since cut and run, and the large majority of their owners are now – yes you’ve guessed it – operating similar fraudulent schemes by running binary options brands.
It would be of great benefit to the investing public, and to the genuine electronic trading industry that is run and operated by the most diligent and qualified professionals in the world’s genuine financial markets economy, if this morning’s arrest is the first of many.
FinanceFeeds continues to support the genuine and bona fide electronic trading industry, retail and institutional, and its respective technology providers that have dedicated their careers to making this one of the most avantgarde and sophisticated business in the world.