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The Eyal Nachum Declaration on Guy Galboiz and Binary Option Scams

Between 2014 and 2018 they were the new kings of the financial world. The Israeli Binary Options Masterminds like David Cartu, Uri Katz, Guy Galboiz, Gal Barak, Lee Elbaz, and their colleagues. The Times of Israel journalist Simona Weinglass based in Tel Aviv estimated in her 2016 article series “The Wolves of Tel Aviv” that about 10,000 people in Tel Aviv worked in the boiler rooms, marketing agencies and software companies of the Israeli binary options industry. The employees in this segment have received high salaries, as an article on Finance Magnates presented.

Fraudulent industry powers startup nation

In fact, this fraudulent industry was the heart of the internationally acclaimed Israeli start-up miracle, Weinglass laid out. This Israeli online industry has cheated tens of thousands of retail investors worldwide, causing up to $10 billion in damage per year, the authorities estimate.
During 2017, when it became apparent that the broker schemes of GreyMountain Management (David Cartu and Uri Katz), MigFin (Guy Galboiz), Yukom Communications (Lee Elbaz and Yossi Herzog) or E&G Finance (Gal Barak) and almost all other binary option schemes were systematic investment scams, regulators and parliaments began to ban binary options.

In Israel, the ban on binary options became effective in early 2018. As early as 2017, the highly acclaimed binary options kingpins began their retreat. They made their binary options platforms and the companies behind them vanish. They began to cover up all traces in the best possible way. GreyMountaing Management Ltd, founded in 2014, was sent into liquidation in 2017. MigGin, established in 2013, was renamed into GTech Media Development Ltd with new management, E&G Finance was renamed into E&G Bulgaria.

Paramount Role of Payment Services Providers

Payment service providers have been of paramount importance to this industry. They were the first to facilitate investment fraud with their services. The so-called FinTech start-ups such as Payobin, Moneta International and MoneyNet International have made excellent profits with the billions of retail investors paid to broker schemes. And they had an excellent overview of the industry. In this respect, the above-mentioned Eyal Nachum Declaration is of great importance.

Eyal Nachum Declaration

In a detailed declaration to a registered financial services provider in May 2016, Eyal Nachum summarizes the situation around two binary options Scams ICOption and TitanTrade. Eyal Nachum and his Payobin were involved in both platforms as payment services providers. We also know this from the public court case Payobin vs. Umbrella OnlineTech. At the time of the declaration, the binary options industry was at its peak. It was the heydays for the Wolves of Tel Aviv.

PAyobin with Umbrella and ICoption

In the declaration, Nachum states that Guy Galboiz and his MIG G.A. Marketing Finance Ltd (MigFin) are actually the same as Primero Capital Solutions Ltd and Ultra Solutions MT Limited. This supports a FinTelegram article on this subject from May 2019. It also shows that Guy Galboiz and his company were very close with Eyal Nachum and his Payobin. The Eyal Nachum Declaration supports FinTelegram’s reports on Payobin’s involvement in binary options and broker scams. To FinTelegram, Eyal Nachum and his lawyers have always described this claim as defamation and “all lies.”

MigFin and IOption of Guy Galboiz
Eyal Nachum declaration naming people of MigFin and ICoption

Ultimately, Nachum’s declaration proves the unscrupulous approach in the Israeli binary options industry. Nachum accuses Galboiz of threatening them and announced legal action against Galboiz for defamation.

We have asked Eyal Nachum to comment on his declaration. In a lengthy discussion, he did not deny that he is the author of this declaration. However, he also did not give a statement but accused FinTelegram in general of lying and defaming. Despite repeated requests for concrete lies or mistakes, we did not receive an answer.

2 Comments

  1. Avi Cohen Avi Cohen August 23, 2019

    Hi there, I am sure you are aware of this article https://www.haaretz.com/1.5142252. A certain Eyal Nachum was arrested, indicted and imprisoned for sexual harassment in 2010. This guy used to be an officer in the Israeli army. Allegedly, this Eyal Nachum sexually molesting dozens of girls and of harassing hundreds more on the internet over the course of six years.

    • tamir tamir Post author | August 23, 2019

      Hi there, thank you for your contribution. Yes, we know this story and already confronted Eyal Nachum from Moneta International UAB with this. He said it’s not him. Even if the people are resembling each other, we have no reason not to believe the “Moneta International Eyal Nachum”. Allegedly, many people in Israel are called Eyal Nachum and have served in the Israeli army as officers. And finally, the convicted sex offender Eyal Nachum (the other one ) has served his sentence and should be left alone.

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