The U.S. court case around the Israeli Lee ELBAZ, Yukom Communications, and their fraudulent binary options scheme develops. ELBAZ’ alleged co-conspirator and former Yukom employee Lissa MEL has pleaded guilty to one count of conspiracy to commit wire fraud, Finance Feeds reported just recently.
According to the latest Court filings, defendant Lissa Mel (a/k/a “Monica Sanders”) has pleaded guilty to one count of conspiracy to commit wire fraud. Sentencing for defendant Mel has been scheduled for June 17, 2019, at 2:00 PM. The case against her continues at the Maryland District Court, Finance Feeds reported.
Yukom Communications was one of the many fraudulent Israeli binary options companies and provided investor “retention” services for at least the two websites, known as BinaryBook and BigOption. According to the indictment, the company’s CEO Lee Elbaz, along with Lissa Mel and other co-conspirators and subordinates, misled investors by falsely claiming to represent the interests of investors but that, in fact, the owners of BinaryBook and BigOption profited when investors lost money. FinTelegram covers this binary options court case in all details.
More Binary Options Cases
The U.S. authorities believe that the YUKOM sites have betrayed investors to the tune of tens of millions of dollars. The BinaryBook site alone is said to have received USD 99 million from investors between the 2nd quarter of 2017 and the 4th quarter of 2016. However, only USD 20 million was paid out to customers during this period, the FBI found in its investigations.
YUKOM is for sure a role model for the fraudulent online trading and binary options industry. FinTelegram is aware of international actions of enforcement agencies against schemes operated in Europe and Israel such as Option888, SafeMarkets or Golden Markets. While the brokers’ Boiler Rooms perpetrate customers and acquire their money, the retention services staff ensured that nothing was paid out and more funds were deposited.
More Conspirators Charged
Besides Lee Elbaz and Lissa Mel, two more former Yukom employees have been charged by U.S. prosecutors for their participation in Yukom’s binary options scheme. One of these cases targets Liora Welles, also known as “Lindsay Cole,” “Lindsay Wells,” and “Lindsay Taylor”. She pleaded guilty to one count of conspiracy to commit wire fraud charged in a criminal information on December 19, 2018. Another case targets Shira Uzan. She pleaded guilty to one count of conspiracy to commit wire fraud charged in a criminal information on December 21, 2018. Sentencing for Uzan and Welles has been scheduled for March 22, 2019.