On 27 September 2016, Reuters published a special report on binary options fraud. The report identifies Israeli citizen Guy Galboiz as the 37-year old beneficial owner of large binary options scams NRGbinary, TitanTrade, or ICoption. Just to name a few. FinTelegram has proven through intensive research in recent months that Guy Galboiz was the operator of more than a dozen binary options scams. With his MIG G.A. Marketing Finance Ltd (MigFin) – now known as GTech Media Development Ltd – Galboiz operated a large boiler room in Tel Aviv and attacked retail investors in Europe.
Guy Galboiz, the 37-year old who registered the website in his name, declined to comment. Reuters also tried to speak to others at NRGbinary but email and phone messages were not returned. The case of NRGbinary is another example of the way scammers can hide in the gaps between regulators in different jurisdictions. Israeli regulators say they never looked at the company, or others like it, that did not sell their products in Israel.Reuters Report – From Israel via London, an online gambling scam traps thousands
In partnership with his Romanian partner Stefan Trasca, Guy Galboiz was one of the most aggressive binary options perpetrator between 2013 and 2017. They worked closely with David Cartu’s GreyMountain Management Ltd (GMM) and Eyal Nachum‘s Payobin (Payotech Lt) in various binary options schemes. Read more on the big picture of the Guy Galboiz network here on FinTelegram.
Galboiz victims have registered with our European Funds Recovery Initiative (EFRI). Some of them have met with Galboiz personally to get their money back. They describe him as a charming person who obviously loves the good life. Some victims have sued Galboiz and/or his companies in Israel, Simona Weinglass of the Times of Israel reported. However, there was no court decision because they settled out of court.
Follow the money – find the Guy Galboiz Finance Group
Some three years later the now 40-years old Guy Galboiz has apparently used the proceeds from these binary options scams to run a money lending business. The Guy Galboiz Finance Group offers to lend money via the website www.guygalboiz.net. For real estate transactions or simple debt restructuring. In addition, Galboiz gives interesting advice on homework and professional success on his blog.
At least the victims of the binary options scams now know what is done with their money. This is nothing less than cynical but at least the authorities and lawyers now know where to look for the stolen money.