Yossi Herzog | FinTelegram News

Tag: Yossi Herzog

May 29, 2023

Convicted Israeli Binary Options Fraudster Lee Elbaz Fights Against The United States!

Lee Elbaz, 42, is a former CEO of the Israeli binary options scam scheme Yukom Communications, which defrauded investors worldwide of at least $140 million. In 2019, a U.S. jury found Elbaz guilty, including bank wire fraud. She was sentenced to 22 years in prison and $28 million in restitution payments. Elbaz was working from Israel and portrayed herself as a mere middle manager following the directions of the scheme's owners, Yossi Herzog and Kobi Cohen. She still fights her U.S. conviction.

January 17, 2023

What happened To Israeli Binary Options Mastermind Yossi Herzog?

The binary options industry was conceived in Israel as a gamification of the Forex industry. Forex for the stupid, it was. One of the masterminds and a member of our super villains' list was Yossi Herzog. Together with his junior partner Yakov "Kobi" Cohen, he launched, among others, the Yukom Scheme. While their former CEO, Lee Elbaz, and other managers were sentenced to prison and fines in the U.S., Herzog and Cohen are not available for the U.S. authorities.

January 15, 2023

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!

January 5, 2023

Israeli Binary Option Supervillain Aviv Talmor Sentenced To 4 Years Prison Time!

Aviv Talmor, the Founder and CEO of the binary options scheme UTrade, has received a four-year prison sentence for defrauding investors of $22 million, FinanceMagnates reports. Additionally, he was fined about $78,900. The District Court in Tel Aviv sentenced Talmor after the conviction in September 2022. He was found guilty of fraud under aggravated circumstances, theft by an authorized person, money laundering, and managing an investment portfolio without a license.

May 5, 2022

Yukom Case – another Israeli sentenced to 36 months prison time!

Yukom Communications was the Israeli boiler room operator behind vast binary options scams BigOption, BinaryBook, or BinaryOnline and caused retail investors worldwide $150M losses. Elad Bigelman was the brand manager for BigOption. On March 14, 2022, Judge Paula Xinis handed a prison term of 36 months and three years of supervised release to Bigelman. It was the latest decision in the still-pending Yukom Case

April 23, 2022

Finally! US Prosecutors charge notorious Israeli lawyer Moshe Strugano with securities fraud!

Israeli lawyer Moshe Strugano, 52, is a greedy man always looking for more money. He was one of the facilitating lawyers of the fraudulent Israeli binary options scene. Scammers like Yossi Herzog, Kobi Cohen, Lee Elbaz, David Cartu, et al have run dozens of binary options scams worldwide, defrauding tens of thousands of consumers out of hundreds of millions. They could not have done this without the support of lawyers like Moshe Strugano. The US prosecutors charged him with conspiracy to commit securities fraud and securities fraud and sought his extradition from Israel.

September 4, 2021

Israeli fund recovery schemes chasing scam victims

Israeli fintech pundits also invented binary options industry. Big players like SpotOption, PandaTS, or Tradologic had thousands of binary options schemes running on their platforms as white-label clients. Binary options turned out to be ultimately a gigantic fraud industry. Conveniently, fund recovery companies have also emerged in Israel, often run by former scammers. Schemes like Europe Refund or MyQuickRefund run massive Google Ad campaigns to acquire scam victims and sell their expensive services.

April 22, 2021

Chasing Scam Facilitators – The Vienna Cybercrime Trials, SpotOption, and PandaTS

Israeli Gal Barak was sentenced in September 2020 to four years in prison and millions in restitution payments for investment fraud and money laundering in the Vienna Cybercrime Trials. Barak also faces charges in Germany. He was the head of the cybercrime organization E&G Bulgaria, which operated broker scams such as XtraderFX, SafeMarkets, Golden Markets, or OptionStarsGlobal. Payvision was its main payment facilitator, and PandaTS, the white label provider, which Barak charges with similar arguments as the U.S. SEC does in its SpotOption fraud complaint.

April 20, 2021

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.

March 8, 2021

FCA warns against fund recovery scams Trader Recovery and Refund Expert

UK FCA issued investor warnings against two suspected fund recovery scams Trader Recovery (www.traderrecovery.co.uk) and National Association of Refund Expert Bureaux (www.refund-expert.org). The former's website is currently down. It is a sad fact that there are more and more fund recovery scams that lure even more money out of already damaged victims of scams by promising them to get their money back. Unfortunately, they are nothing but super-toxic.

December 21, 2020

Convicted Yukum CEO Lee Elbaz seeks to vacant the conviction

Lee Elbaz, an Israeli, was hired as the CEO for the Yukom boiler room in Israel. She managed the fraud on investors under direction and instruction. The U.S. jury found her guilty of fraud. She was sentenced to 22 years in prison and $28 million in restitution payments. On Dec. 18, 2020, she filed the appeal, asking for a vacation of the conviction because her former boss Yossi Herzog, also charged, has not provided testimony. He would have confirmed that Elbaz had no intention to commit fraud, the appeal argues.

December 16, 2020

The Australian Battlefield – ASIC filed a lawsuit against iSignthis for its binary options legacy

ASIC has filed a lawsuit against taken fintech iSignthis (ISX) and its Managing Director, John Karantzis, to court. The regulator filed a lawsuit last week alleging iSignthis and Karantzis had breached its disclosure obligations and misled shareholders regarding some high-paying contracts signed during the first half of 2018. Behind the ASIC proceedings are 2018 contracts and revenues related to some 336.7 million performance shares for the ISX management. ISX used to be part of the Israeli Network of Binary Options Supervillains of Yossi Herzog.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.

Gotbit and Russian Executives Charged by U.S. DOJ and SEC for Crypto Market Manipulation!

Gotbit Consulting LLC, along with its Russian executives, has been charged by the U.S. DOJ and SEC for its role in a widespread market manipulation scheme. By using wash trades, Gotbit inflated crypto asset prices and volumes, deceiving investors and raising millions in illicit profits. The company’s fraudulent activities were executed across multiple jurisdictions, with key figures now facing extradition and prosecution.

SEC Charges Market Manipulators in Crackdown on Crypto Asset Fraud

The U.S. SEC has charged three market makers and nine individuals for manipulating the crypto asset market, generating artificial trading volumes and misleading retail investors. The fraudulent schemes created the illusion of active markets, prompting unsuspecting investors to pour money into manipulated crypto assets. The DOJ filed criminal charges against the scheme operators in a parallel transaction.