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Tag: Afik Tori

Breaking: More Arrests In The Israeli $150 Millionen Binary Options Fraud Scheme Yukom!

The Times of Israel reports more arrests in the notorious binary options schemes operator Yukom Communications. Ori Maymon, Nissim Alfasi, Afik Tori, Oron Montgomery, Dave Barzilay, and Gilad Mazugi,, were arrested at the request of U.S. prosecutors. Their lawyers are fighting the extradition. Former CEO Lee Elbaz received 22 years of prison time and a $28 million restitution payments order. In March 2022, Elad Bigelman, former brand manager for BigOption, was sentenced to a 36-months prison term. The case will continue with a few more sentences, it seems!

Chasing Scam Facilitators – The U.S. v. SpotOption, Yukom, GreyMountain Management, et al

Broker scams are like icebergs. You can see only the tip sticking out of the water, i.e., domain, website, offshore entities, and nominees a/k/a monkeys. Underwater or in the darkness of the Internet, the real perpetrators and facilitators are hiding. These scam-facilitators are white label providers, the boiler room operators, marketing and affiliate systems, and the payment processors. In the case of the Yukom scam, these were the boiler rooms in Israel and Mauritius, mostly Israeli payment processors, and the white-label operator SpotOption, which provided the software and trading infrastructure.

U.S. Prosecutors charges 15 more perpetrators in the $140 mio Yukom binary options fraud scheme

Fifteen individuals, including two former company owners, were charged in a superseding indictment unsealed on Nov 8, 2019, the...