Aug 10, · Judge Theodore D. Chuang of the Maryland District Court has determined that binary options fraudster Lee Elbaz, a/k/a Lena Green, will have to pay restitution of $28 million to victims of the scam. The order, seen by FinanceFeeds, was issued on August 7, A year ago, Lee Elbaz was convicted of one count of conspiracy to commit wire fraud, in violation of 18 U.S.C. § , and three . Jun 04, · GREENBELT, Maryland — Israeli binary options operative Lee Elbaz was found guilty by a Maryland jury on Wednesday on three counts of wire fraud and one count of conspiracy to commit wire . Oct 17, · Lee Elbaz, the former CEO of Yukom Communications, a company at the heart of a large-scale binary options scams, has secured more time to file her opening brief as she appeals from her sentencing. The appeal case was launched in January at the Fourth Circuit U.S. Court of Appeals but Elbaz has not yet submitted the brief and appendix that will mark the actual start of argument in .
US jails Israeli binary options crook Lee Elbaz for 22 years; must repay $28m | The Times of Israel
Judge Theodore D. The order, seen by FinanceFeeds, lee elbaz binary options, was issued on August 7, A year ago, lee elbaz binary options, Lee Elbaz was convicted of one count of conspiracy to commit wire fraud, in violation of 18 U. The wire fraud conspiracy was lee elbaz binary options extensive international conspiracy involving companies lee elbaz binary options in Israel and Mauritius engaging in fraudulent telephone and email communications designed to cause individuals to invest under false pretenses in binary options, under the brand names BinaryBook and BigOption.
Elbaz was the Chief Executive Officer of one such company, Yukom, lee elbaz binary options, based in Caesaria, Israel, and instructed numerous retention agents to lie to potential investors in order to procure such investments. Elbaz also had a significant role in the work of retention agents at another company, Numaris, located in Tel Aviv, Israel, and with training of personnel at a third company engaged in the fraudulent scheme, Linkopia, based in Mauritius.
Accordingly, at sentencing, the Court found that based on the evidence at trial, the loss attributable to Elbaz included the losses to all victims of fraud, from May to Junebased on investing under the brand names BinaryBook or Big Option where the fraud was connected to Yukom, Numaris, or Linkopia, because such losses were attributable to the charged conspiracy and reasonably foreseeable to Elbaz.
In seeking to establish the loss amount for purposes of the United States Sentencing Guidelines, however, lee elbaz binary options, the Government relied almost exclusively on the Spot Option database, a data set that generally provided information on fraudulent transactions involving the BinaryBook and Big Option brands, and broadly argued that all transactions in the Spot Option database were part of the fraud.
At that time, the Court did not impose an order of restitution but instead granted the Government leave to submit evidence to establish the appropriate restitution amount.
The Government has now submitted, in addition to the Spot Option database, the third declaration of Michael J. As per the order issued on August 7,the Court finds that lee elbaz binary options methodology was sound and yields a reasonable estimate of the loss to victims attributable to Elbaz.
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Israeli woman gets 22 years in prison for investment fraud
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Dec 18, · About a year after binary options fraudster Lee Elbaz, the former CEO of Israel-based Yukom Communications, was sentenced to months in prison, she is seeking to vacate the conviction. The Brief, filed earlier today by Elbaz at the Fourth Circuit U.S. Court of Appeals and seen by FX News Group, makes some rather startling claims. Aug 10, · Judge Theodore D. Chuang of the Maryland District Court has determined that binary options fraudster Lee Elbaz, a/k/a Lena Green, will have to pay restitution of $28 million to victims of the scam. The order, seen by FinanceFeeds, was issued on August 7, A year ago, Lee Elbaz was convicted of one count of conspiracy to commit wire fraud, in violation of 18 U.S.C. § , and three . Oct 17, · Lee Elbaz, the former CEO of Yukom Communications, a company at the heart of a large-scale binary options scams, has secured more time to file her opening brief as she appeals from her sentencing. The appeal case was launched in January at the Fourth Circuit U.S. Court of Appeals but Elbaz has not yet submitted the brief and appendix that will mark the actual start of argument in .
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