15 Israelis Arrested for Binary Options Fraud
- The prime suspect who was arrested is an Israeli lawyer.
The law enforcement of Israel and Germany have together busted a binary options fraud racket on Wednesday, arresting 15 suspects in Israel. The police released 11 suspects after interrogation but will bring the other 4 to court seeking an extension of their custody.
As reported by a local news outlet, the primary accused individual that was arrested in the raid is an Israeli lawyer, who is believed to be the co-owner of the company running the fraudulent activities.
However, another key suspect, who manages and controls the firm, is still at large. Though his identity is not known yet, he is believed to be abroad and is wanted in Israel for questioning.
According to the authorities, the suspects were operating call centers in Israel and other countries to run the investment scams. They primarily targeted German nationals with lucrative investment schemes and persuaded them to invest their money in stocks, foreign exchanges and commodities. However, the company disappeared with the funds without making any trades.
During the raids on the Israeli office premises, the authorities seized computers, mobile phones and various documents, along with cash. Additionally, several bank accounts tied to the company have been frozen, securing approximately 4 million shekels (around $1.24 million).
Raids after Raids
Earlier, another joint investigation by the Israeli and the German authorities led to the bust of another case of binary options fraud. This resulted in the freezing of accounts of Bit-Tech Technologies, a capital markets Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term provider, with around 50 million shekels. But, there is no connection between the two separate rackets, as of now.
A fraudulent Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and crypto investment scheme investigated by the Israeli police and US FBI resulted in the arrest of 26 Israelis earlier this month. Though all the Israeli suspects were released, authorities in Cyprus, Ukraine and South Africa continue to bust suspects connected to the scam.
The law enforcement of Israel and Germany have together busted a binary options fraud racket on Wednesday, arresting 15 suspects in Israel. The police released 11 suspects after interrogation but will bring the other 4 to court seeking an extension of their custody.
As reported by a local news outlet, the primary accused individual that was arrested in the raid is an Israeli lawyer, who is believed to be the co-owner of the company running the fraudulent activities.
However, another key suspect, who manages and controls the firm, is still at large. Though his identity is not known yet, he is believed to be abroad and is wanted in Israel for questioning.
According to the authorities, the suspects were operating call centers in Israel and other countries to run the investment scams. They primarily targeted German nationals with lucrative investment schemes and persuaded them to invest their money in stocks, foreign exchanges and commodities. However, the company disappeared with the funds without making any trades.
During the raids on the Israeli office premises, the authorities seized computers, mobile phones and various documents, along with cash. Additionally, several bank accounts tied to the company have been frozen, securing approximately 4 million shekels (around $1.24 million).
Raids after Raids
Earlier, another joint investigation by the Israeli and the German authorities led to the bust of another case of binary options fraud. This resulted in the freezing of accounts of Bit-Tech Technologies, a capital markets Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term provider, with around 50 million shekels. But, there is no connection between the two separate rackets, as of now.
A fraudulent Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and crypto investment scheme investigated by the Israeli police and US FBI resulted in the arrest of 26 Israelis earlier this month. Though all the Israeli suspects were released, authorities in Cyprus, Ukraine and South Africa continue to bust suspects connected to the scam.