SEC puts pressure on binary options firm EZTD to reply to claims about unpaid penalty

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During March this year, the Court entered the Order to Show Cause from EZTD, Inc. to show cause why the Final Commission order requiring EZTD to disgorge $1,515,858 and prejudgment interest of $57,691, and also pay a civil penalty of $200,000, and injunctive relief, should not be granted.

The penalty stems out of a matter between EZTD’s offers and sales of binary options to US customers, involving June 2011 and August 2014, through EZTD’s two online trading platforms, eztrader.com along with globaloption.com. The options which were the topic of the offers and earnings were the-counter, cash-settled alternative contracts. They did not give the holder the right to purchase or sell the resources and their period duration was restricted. These binary choices constituted securities.
A Status Report filed with the Court, this past week. The record says , on May 9, 2019, the Commission won’t agree to the entry of decision, and discovered that new counsel has been retained by EZTD.

The article SEC places pressure on binary options company EZTD to reply to claims concerning unpaid penalty appeared first on FinanceFeeds.
FinanceFeeds –

EZTD is a Delaware corporation having a principal place of business from Tel Aviv, Israel and Nicosia, Cyprus,” SEC explains.

EZTD has been served two months back, also the Commission notes that this is really a summary proceeding and has had time to respond to the Court’s Order.
Accordingly, the SEC asks the Court reset the hearing date and briefing schedule. The proposed arrangement claims that if EZTD neglects to file opposing papers and/or look at the scheduled hearing, it may be found by the Court option and enter an order from it without further notice being given.
Lawsuits against binary choices firms and the individuals behind them become more numerous, as the US governments continue with their efforts to put a stop to binary choices fraud. One of those activities, brought on by the United States Securities and Exchange Commission (SEC) in the Delaware District Court, targets binary choices company EZTD, with the US regulator seeking to compel the company to cover the full civil financial penalty and disgorgement levied on it back from 2016.

US Govt opposes request by binary options fraudster Lee Elbaz for foreign depositions

Sourced from: https://financefeeds.com/us-govt-opposes-request-by-binary-options-fraudster-lee-elbaz-for-foreign-depositions/

The names of both Lee Elbaz and Yossi Herzog are associated in the past, since FinanceFeeds research has demonstrated. Herzog is the majority owner of Yukom Communications. Furthermore, Elbaz and Herzog have been famous for their work in 4XP.
Further, the Government asserts that it is unclear whether the deponents are not unavailable to testify at trial. Additionally, according to the US Authorities, it’s uncertain whether the suspect has shown that the proposed testimony is not material.

Let’s recall that Elbaz asks an Order permitting her to shoot videotaped depositions in Israel of Chanan Tabarko, Elad Bigelman, Nissim Alfasi, and Yossi Herzog so as to carry on the testimony of these people for trial. According to Elbaz, the interest of justice and unique circumstances service devoting her Motion.

FinanceFeeds –
As a first matter, the US Government says the defendant’s movement should be denied in seeking those depositions until two weeks before trial for the delay in the absence of a compelling justification in her ex parte entry. Elbaz was indicted over a year ago (at March 2018). The Government has not been made to some excuse for this delay.

The post US Govt opposes petition by binary options fraudster Lee Elbaz for overseas depositions appeared first on FinanceFeeds.

A few weeks after Lee Elbaz, also known as Lena Green, the former CEO of Israel-based Yukom Communications who stands accused of binary options fraud in america requested to depose certain individuals, the United States Government has registered its opposition to the petition.

The details about Elbaz’s motion to depose Herzog along with witnesses are not made public. The relevant files are sealed.
At the Maryland District Court, the US Government filed its resistance on May 8, 2019. The US authorities note that Elbaz’s memorandum in support of her motion was filed ex parte and under seal, so the Government cannot determine if the requisite showing has been made by Elbaz .

Elbaz was detained by the FBI at September 2017. The Indictment charges with one count of conspiracy to commit wire fraud and three counts of wire fraud. The Indictment alleges that Elbaz engaged for over three years (from roughly May 2014 and continuing through approximately June 2017) at a fraudulent scheme involving the sale and marketing of binary options — including as the Chief Executive Officer of both Yukom Communications. Yukom has been an Israel-based company that supplied sales and marketing and advertising solutions, such as investor”retention solutions,” for just two internet-based companies that sold and marketed binary options together with all the brand names BinaryBook and BigOption.

BinaryBook sales representative pleads guilty in binary options fraud case

Sourced from: https://financefeeds.com/binarybook-sales-representative-pleads-guilty-binary-options-fraud-case/

That on or about the time alleged in the Information, in the District of Maryland:

  • Two or more individuals agreed to perform something that national law prohibits, that is, to commit wire fraud, as charged in the Data ; and
  • The Defendant knew of the conspiracy and promptly joined the conspiracy.

The elements of this crime to that Smith has agreed to plead guilty are:
The article BinaryBook earnings representative pleads guilty in binary choices fraud instance appeared first on FinanceFeeds.

Since FinanceFeeds has documented , US governments have widened the range of their activities against binary choices fraudsters, together with earnings staff of binary options companies and marketing entities associated with these firms also concentrated.
Smith’s case is connected to Lee Elbaz’s case. Elbaz, the former CEO of Yukom Communications, is charged with a single count of conspiracy to commit wire fraud and three counts of wire fraud. The Indictment alleges that Elbaz participated for more than three decades (from roughly May 2014 and continuing through about June 2017) at a fraudulent scheme involving the purchase and marketing of binary options — such as the Chief Executive Officer of Yukom Communications. Yukom has been an Israel-based company that supplied sales and marketing and advertising solutions, including investor”retention services,” for just two internet-based businesses that marketed and sold binary options with the newest names BinaryBook and BigOption.

In or about August 2015 through in or about January 2016, Smith worked as a sales agent or supervised BinaryBook agents at Numaris Communications. The latter was an Israel-based business that supplied sales and marketing services, such as retention services for BinaryBook. Numaris co-ordinated its function with Yukom. In correspondence and other communications, Smith identified himself as a’expert trader’ and’senior broker’ for BinaryBook.
On Thursday, March 14, 2019, Austin Smith (a/k/a”John Ried”), whose actions are linked to BinaryBook and Yukom Communications, pleaded guilty to a count of conspiracy to commit wire fraud.
The maximum penalties provided by statute for the offense to that Smith is pleading guilty are as follows:

Under the charges, Smith conspired to commit crimes against the United States, to humor and wire fraud by means of materially false and fraudulent pretenses, representations and guarantees. It was the intention behind the conspiracy for Smith and other agents of Yukom, Numaris, BinaryBook, BigOption and other entities to acquire maximum deposit from investors and to take steps to make sure that investors lost money in their account — thereby earning cash for themselves and their brands from the procedure.
FinanceFeeds –

As per the plea agreement, filed with the Maryland District Court, the Defendant agrees to plead guilty to some one-count info, which charges the Defendant with conspiracy to commit wire fraud, in violation of 18 U.S.C. § 1349. The Defendant admits he is, in actuality, guilty of this offense and will so advise the Court.

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