The Canadian regulator Ontario Securities Commission (OSC) has filed civil charges against the three Canadian-Israeli brothers David Cartu, Jonathan Cartu, and Joshua Cartu for illegally soliciting Canadians to trade binary options, defrauding Ontario residents out of $1.4 million, part of a $233 million global scheme. According to the report, the Cartu brothers immigrated to Israel from Ontario in the last decade. They mingled with Israeli elites and are living “flashy lifestyles” in swanky homes, dating models, and racing sports cars.
The Respondents established and operated two companies to facilitate the process by which online investors deposited funds to their binary options trading accounts: UKTVMLtd. (UKTVM); and GreymountainManagement Limited (Greymountain) … Greymountain was incorporated in Ireland and facilitated similar payment processing services for the Cartu Brands from mid 2014 through to 2017.
The Cartu brothers are the beneficial owners behind the vast GMM binary options scheme and several illegal payment services providers and are thus responsible for dozens of thousands of its victims across all continents. The scheme operated dozens of scam brands such as BeeOptions or Glenridge Capital which are mentioned in the OSC allegation. Together with their Israeli partner Uri Katz and the partner Wirecard, the Cartu brothers have operated dozens of binary options scams between 2014 and 2017 either by themselves or via third parties (partners). A former insider provided us with extensive documentation.
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