Lee Elbaz, the former CEO of Israeli binary options company Yukom Communications, was indicted by a US federal grand jury on March 22 for allegedly participating in a scheme to “defraud investors in the United States and across the world.” GREENBELT, Maryland — Israeli binary options operative Lee Elbaz was found guilty by a Maryland jury on Tuesday on three counts of wire fraud and one count of conspiracy to commit wire fraud in connection with a vast scheme to defraud investors all over the world out of more than $ million 4. 9. · Nearly four months after binary options fraudster Lee Elbaz, the former CEO of Israel-based Yukom Communications, challenged the month prison sentence and the $28 million restitution order issued as to her by the Maryland District Court, the
US jails Israeli binary options crook Lee Elbaz for 22 years; must repay $28m | The Times of Israel
GREENBELT, Maryland — Israeli binary options fraudster Lee Elbaz was sentenced to 22 years in prison by a court here on Thursday.
US District Judge Theodore Chuang told Elbaz, 38, that her actions cost vulnerable investors their life savings, homes and even their marriages. The government has 90 days to find more victims, which may raise the restitution amount.
Elbaz, who has been in jail since her conviction in August, was brought to the court in an orange jumpsuit. She sobbed intermittently throughout the hearing, and grasped the arm of one of her attorneys as the judge announced the sentence.
Get The Start-Up Israel's Daily Start-Up by email and never miss lee elbaz binary options top stories Free Sign Up. Elbaz was the CEO of Yukom Communications Ltd. She is one of 21 indicted defendants who worked for Yukom, which operated the websites BigOption and BinaryBook, and was the first to be tried.
Elbaz was arrested by the FBI on September 14,as she got off a lee elbaz binary options at JFK airport in New York. Five former employees of Yukom Communications Ltd. and Numaris Communication Ltd, lee elbaz binary options. in Israel — Lissa Mel, Shira Uzan, Liora Welles, Austin Smith and Yair Hadar — signed plea deals with the US government.
All but Mel testified at the Elbaz trial on behalf of the prosecution, saying that Elbaz instructed them to lie to investors in order to get them to deposit as much money as possible, and to do everything possible to prevent them from withdrawing their funds, lee elbaz binary options. Fifteen additional defendants were indicted in November.
Ronen Roytman, the head of Numaris Communication, entered a non-prosecution agreement with the US government. An email instructed BinaryBook sales representatives to target retirees, Social Security recipients, pension holders and veterans as clients, lee elbaz binary options, according to court filings accompanying guilty pleas by former employees.
Justice Department prosecutor Henry Van Dyck said most of the victims lost everything they invested. He said that videos from inside Yukom showed that employees enjoyed their work, and that Elbaz fostered a work environment where it was fun to defraud investors. He also borrowed 30, for his investment and afterwards had to refinance his home. The judge said that Elbaz and others specifically targeted vulnerable people, including the elderly, and tried to get people addicted to trading like in a casino.
He said that Elbaz would suggest that clients use their retirement funds for investments. Herzog and Cohen, who have both been indicted, are still at large. Pollack had asked for a sentence of five years in prison for his client, lee elbaz binary options.
Many of the fraudulent operatives have since moved their operations abroad, or switched to other scams, though Israeli law-enforcement authorities have proved unwilling or unable to prosecute more than a handful of alleged offenders. By contrast, the US government is ratcheting up efforts to bring Israeli offenders to justice.
But it's full of beauty and meaning. I'm proud to work at The Times of Israel alongside colleagues who pour their hearts into their work day in, day out, lee elbaz binary options capture the complexity of this extraordinary place. I believe our reporting sets an important tone of honesty and decency that's essential to understand what's really happening in Israel.
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But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community. Lee Elbaz, an Israeli woman convicted in August for binary options fraud, enters the Greenbelt, Maryland courthouse on July 25, com Photo credit: Times of Israel.
Lee Elbaz with her indicted co-conspirators Nissim Alfassi and Runal Jeebun in an undated photo Photo: Courtesy. Thank you, Sarah Tuttle Singer, New Media Editor.
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, time: 10:02Lee Elbaz, The G-Men Are Coming To Get You
3. 2. · The United States Department of Justice (DOJ) has once again delayed the appeal case brought by binary options fraudster Lee Elbaz, who is challenging a year prison term. After shifting the deadline in Elbaz’s case by 30 days to March 10, , the DOJ has requested another day delay to file its response to Elbaz’s arguments for her appeal from the prison sentence 7. · Ms Elbaz, also known as Lena Green, was the chief executive of Yukom, a company that operated binary options trading platforms under trade names such as BigOption and BinaryBook. Her team modelled themselves on Jordan Belfort — the New York stockbroker and scammer who inspired the film The Wolf of Wall blogger.comted Reading Time: 3 mins Lee Elbaz, the former CEO of Israeli binary options company Yukom Communications, was indicted by a US federal grand jury on March 22 for allegedly participating in a scheme to “defraud investors in the United States and across the world.”
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