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August 22, 2024

The Cartu Brothers and the GMM Fraud Scheme: An Absurdly Luxury Lifestyle Financed by Devasted Victims!

The recent arrest of Joshua “Josh” Cartu in Russia has reignited interest in one of the most notorious financial fraud cases of the past decade—the binary options scheme orchestrated by the Cartu Brothers, centered around the Irish company GreyMountain Management (GMM). Tens of thousands of victims worldwide are still seeking justice and the return of their lost funds, which allegedly financed the extravagant lifestyles of the Cartu Brothers.

March 30, 2024

Attention: CFTC Opens Door for Whistleblower Claims in $204 Million GreyMountain Management Binary Options Fraud Scheme!

The U.S. Commodity Futures Trading Commission (CFTC) has announced a significant development in its crackdown on fraudulent binary options operations, highlighting the case against the vast binary options fraud scheme GreyMountain Management (GMM), and its three Israeli owners. This case is part of a broader action against a sophisticated binary options fraud scheme linked to the Canadian-Israeli Cartu Brothers—David, Joshua, and Jonathan Cartu.

June 29, 2022

The Cartu Brothers And Their Directors Sued In Ireland Over Alleged Binary Options Fraud!

The Canadian-Israeli brothers David Cartu and Jonathan Cartu, together with Joshua Cartu, are at the very center of a gigantic binary options fraud scheme around the Irish GreyMountain Management Ltd. The Irish Times reports that the Florida-based investor William Thomas Powers and more than 30 other investors sue David Cartu, Jonathan Cartu, and the former Irish directors Ryan Coates and Liam Grainger over more than $4 million in losses. GreyMountain Management Ltd was wound up. The court case started on 28 June 2022 before Justice Michael Twomey.

June 7, 2022

Whistleblower Request – Perpetrators Behind Israeli Liantech And Its Scams!

The fraudulent binary options industry that started its raid around the world from Israel and left hundreds of thousands of victims with billions in losses has collapsed. Some of the former binary options scammers have been in like against the people of the Israeli Liantech Finance Marketing Ltd of Anton Senderov and Lion Babazara. They settled with the US SEC in 2020 and paid fines for their US fraud activities. Although you may regard it a cold case, we would like to know more to support their victims in getting their money back.

August 10, 2021

CFTC’s Notice of Allegation in the fraud complaint against Cartu Brothers and other Defendants

The U.S. CFTC filed a fraud complaint against David Cartu, Joshua Cartu, Jonathan Cartu ("Cartu Brothers"), and others in September 2020 alleging vast binary options fraud in the amount of $165 million. The lawsuit could not be served by the CFTC or the relevant U.S. court. So, the CFTC, through paid advertisements in media outlets such as The Times of Israel, has conceded notice of the lawsuit, including notice of meetings and deadlines. Below is yesterday's advertisement from the Times of Israel. As a courtesy to the CFTC and in support of the victims, we are also posting this Legal Notice here on FinTelegram.

May 28, 2021

Really? Canadian OSC and its dirty settlement with former Wirecard partner GMM

The Canadian-Israeli Cartu Brothers were the operators of a $165M binary options fraud scheme, according to the U.S. Commodity Futures Trading Commission (CFTC). As a result, the U.S. regulator filed a fraud complaint against David Cartu, Joshua Cartu, Jonathan Cartu, and Nati Peretz, and Leeav Peretz. The Canadian regulator OSC has also taken action against the Cartu brothers for binary options fraud. But now, the Cartu Brothers can buy their way out of the OSC fraud charges for just CAD 300,000. A bargain the brothers will probably laugh about for a long time.

May 13, 2021

Alleged binary options scammer Joshua Cartu sends greetings from Moscow

At the last Ontario Securities Commission (OSC) hearing in the fraud charges against David Cartu, Jonathan Cartu, and Joshua Cartu on March 25, 2021, Joshua Cartu did not appear. Nor has he sent a representative, although properly served. Not only the Canadian OSC but also the U.S. CFTC is looking for the Cartu Brothers. The U.S. regulator has brought a fraud complaint against the Cartu Brothers for operating illegal binary options platforms that received more than $165 million from investors. While the CFTC and OSC are looking for him, Joshua Cartu posts greetings from Moscow on Instagram.

September 4, 2020

Binary Options Court Season – The Great Manipulation Game

The Israeli boiler room CEO Lee Elbaz was already convicted of investment fraud by a U.S. jury in August 2019. She must serve 22 years in prison and repay $28 million to investors. In Vienna, the Israeli Gal Barak has been sentenced to four years imprisonment without probation and the confiscated millions will be repaid to his victims. In the U.S. and Canada, regulators are suing the notorious Canadian-Israeli Cartu Brothers for binary options fraud. Accusations of lies and systematic manipulation are the very essence of the charges and complaints.

November 25, 2019

WireCard Issue in Ireland – How binary options scheme operator GeyMountain Management became a related WireCard company

The listed German Fintech WireCard is being shaken by a crisis that has lasted for months. The situation was triggered by reports in the Financial Times..

A Dutch Case: Money Laundering Charges Against Former Jumbo CEO Frits van Eerd!

Frits van Eerd, the former CEO of Dutch supermarket chain Jumbo, is facing serious legal troubles. He is being prosecuted for corruption, forgery, and potentially money laundering charges. The case stems from a 2022 investigation that led to raids on Van Eerd's properties, where authorities discovered €448,000 in cash stashed in various locations, including a refrigerator. Van Eerd stepped down as Jumbo's CEO in September 2022.

Yacht Analyst Report: The Infamous “History Supreme” Superyacht – A PR Hoax Unveiled!

The tale of the superyacht History Supreme is another lesson of how easily the public can be misled by flashy, outlandish claims, especially in the context of wealth and luxury. Allegedly owned by the Malaysian businessman Robert Kuok, the History Supreme is a cautionary example of the dangers of unchecked sensationalism and remains a prime candidate for the title of "the biggest PR hoax in boating history."

Impressive: Bezos’ $25M-A-Year Superyacht Maintenance Costs!

The $25M annual cost of maintaining Jeff Bezos' superyacht Koru underscores the extreme expenses tied to the world’s most luxurious vessels, even as sustainable technology becomes a factor. Koru is a 127-meter (417-foot) long sailing yacht, making it the largest sailing yacht in the world. It was built by Dutch shipyard Oceanco and delivered in 2023. It is estimated to have cost around $500 million to build.

CyberFinance: MicroStrategy’s Bold $14.6 Billion Bitcoin Bet: Visionary or Risky Gamble?

MicroStrategy’s Bitcoin-focused strategy may be a daring leap into the future of finance, but it’s also fraught with risks. With $14.6 billion in Bitcoin holdings, the company is now almost entirely dependent on the world’s largest cryptocurrency. Chairman Michael Saylor’s vision of Bitcoin as digital gold could reshape corporate investing, but will it pay off? Only time—and Bitcoin’s volatile market—will tell.

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Legal Farce or Political Strategy? The Contradiction of Sanctions Against Russian Oligarch Mikhail Fridman!

The EU’s contradictory stance on the Russian oligarch Mikhail Fridman reveals a troubling inconsistency between political actions and legal orders. Despite the annulment of his sanctions by the EU’s own courts, Fridman remains sanctioned, and his assets frozen. This is more than a legal anomaly—it is a reflection of the deeper politicization of the sanctions process. Fridman filed a $16B lawsuit against Luxemburg.