Binary Options Trial Case – Lee Elbaz Allowed to Take Depositions of Yossi Herzog

On April 24, 2019, Lee Elbaz filed a Motion with the U.S. court, seeking an Order permitting her to take videotaped depositions in Israel of Yossi Herzog, Elad Bigelman, Nissim Alfasi, and Chanan Tabarko. The US Government opposed Elbaz’s Motion according to FinanceFeeds. On May 15, 2019, Judge Theodore D. Chuang of the Maryland District Court granted Elbaz’s request. The Court’s ruling, however, does not address whether such deposition testimony will be admissible during trial.

The Yukom Case

Lee Elbaz was arrested by the FBI in September 2017 for charges of binary options fraud. The indictment alleges that the Israel-based Yukom Communications Ltd provided investor retention services for two websites, BinaryBook and BigOption, that were used to promote and market binary options fraudulently. Elbaz was the company’s CEO and allegedly participated for from approximately May 2014 through June 2017 in the fraudulent scheme. Yukum was owned and controlled by the Israeli Yossi Herzog who had been questioned by the FBI insisting that both he and Elbaz are innocent.

Involved People

  • Lee Elbaz (a/k/a “Lena Green”), the former CEO of the Israel-based company, Yukom Communications, was charged with one count of conspiracy to commit wire fraud and three counts of wire fraud, the trial date has been set for July 16, 2019.
  • Austin Smith, (a/k/a “John Ried“) former Vice President of Numaris, a partner of Yukom and founder of Wealth Recovery International pleaded guilty, Sentencing has been scheduled for September 3, 2019.
  • Yair Hadar (a/k/a “Steven Gold”) pleaded guilty on March 21, 2019. Sentencing has been scheduled for August 23, 2019.
  • Lissa Mel (a/k/a “Monica Sanders”) pleaded guilty to one count of conspiracy to commit wire fraud. Sentencing has been scheduled for Aug 23, 2019.
  • Liora Welles (a/k/a “Lindsay Cole” “Lindsay Wells,” and “Lindsay Taylor”) pleaded guilty to one count of conspiracy to commit wire fraud.  Sentencing has been scheduled for Aug 16, 2019.
  • Shira Uzan (a/k/a “Shira Baror” and “Emily Laski”) pleaded guilty to one count of conspiracy to commit wire fraud charged.  Sentencing has been scheduled for Aug 16, 2019. 

It is important to keep in mind that criminal charges and indictments contain allegations only and that defendants are presumed innocent until proven guilty and that presumption requires the authorities to take the respective steps to ensure that justice is served.