EZTD Inc.’s Israeli Subsidiary WGM Allegedly Can’t Pay its Employees
A group of Israeli employees turned to the court claiming that the firm isn't paying their salaries.
Win Global Markets (WGM) Inc Israel, EZTD Inc.’s Israeli marketing services provider, is facing a very difficult time at the moment, according to local media reports. The firm’s employees reportedly turned to the Israeli court claiming that the firm isn’t paying their salaries.
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EZTD Inc. is the international group behind the binary options brands EZTrader.com, EZinvest.com, and EZInvest-sec.jp. Its Israeli subsidiary, WGM, now employs just fifty people, down from 130 in its heyday. It owes hundreds of thousands of shekels in overdue salary payments to its staff according to their reported claims.
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The employees ask the court to freeze all activity regarding WGM in order to examine the state of the firm and the appropriate way to bring it back to healthy operations, in order to keep the business alive and help secure the jobs of its fifty employees.
They further say that the American parent company recently notified the Israeli staff that it is facing bankruptcy due to its current state. WGM allegedly will also not pay its other vital and normal creditors, including the owner of the real estate that it inhabits.
The employees turned to the court after they were able to secure about $280,000 from EZTD investors, as temporary financing, in order to keep WGM operational while the court decides how to proceed with the matter.
Back in November 2016 we reported that the US Securities and Exchange Commission (SEC) has ordered EZTD Inc. to pay more than $1.7 million for misleading investors into trading binary options online before January 2014.
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