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The U.S. authorities continue their clampdown on fraudulent binary options schemes. Even though binary options have been prohibited already in the European Union, the EU enforcement agencies are still way behind their U.S. counterparts in cleaning up those fraudulent schemes. Hence, those binary options fraud artists now cheat investors under new labels such as FOREX or Crypto. Meanwhile, the U.S. authorities put those bad actors in jail.

Yehuda Belsky - a binary options artist
Yehuda BELSKY – binary options artist

In September 2018, an indictment was unsealed at the New York Eastern District Court charging Yehuda BELSKY, nicknamed “Jay Bell,” the owner of Brooklyn-based Y Trading, with mail fraud, failure to register as a commodities trading advisor, and misappropriation of customer funds. Belsky was arrested on the very same day and later released on bail. The pretrial release includes electronic monitoring by Pretrial Services of all of Belsky’s personal devices that connect to the Internet.

The software implemented by Pretrial Services is called “RemoteCOM.” It records everything Belsky does on the monitored device, including but not limited to: websites visited, software programs accessed, all text and e-mail communications. If convicted of mail fraud, BELSKY faces up to 20 years’ imprisonment. The case is captioned USA v. Yehuda BELSKY,  18-CR-504 (ARR).

Read more on this subject on FinTelegram.com.

CategoriesBinary Options

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