FinTelegram brought an update yesterday on the Cartu Brothers‘ case and their problems with regulators U.S. CFTC and the Canadian OSC. Both regulators accuse Canadian-born Israelis David Cartu, Jonathan Cartu, and Joshua Cartu of binary options fraud. On January 26, 2021, after a hearing, the OSC issued a new order with new dates for February 26 and March 25, 2021. At the hearing, only David Cartu was represented by but not his brothers Jonathan and Joshua.
Nothing is known at this time about the progress of the U.S. CFTC‘s lawsuit. FinTelegram has been contacted several times by investigators representing U.S. whistleblowers in this matter. Apparently, however, no trial date has been set yet. In the meantime, we are following the money trail with the support of our whistleblowers.
Besides the Yukom Case surrounding Lee Elbaz and their bosses Yossi Herzog and Kobi Cohen in the U.S. and the Vienna Cybercrime Trials surrounding Gal Barak, the Cartu brothers and their Irish GreyMountain Management Ltd (GMM) are certainly the most prominent court cases at the moment in the unraveling of the fraudulent Israeli binary options industry.
Lee Elbaz and Gal Barak have already been convicted and are in prison in the U.S. and Austria, respectively. Yossi Herzog and Kobi Cohen are on the run, and prosecutors have not yet charged the Cartu Brothers. The CFTC and OSC fraud charges are not currently criminal cases. It will be an exciting 2021.