Binary Options operator Jared Davis (OptionMint, OptionKing) hit with $561K penalty
Jared Davis fraudulently solicited and accepted $10 million from customers in the U. S. and elsewhere to trade off-exchange binary options.
Jared Davis fraudulently solicited and accepted $10 million from customers in the U. S. and elsewhere to trade off-exchange binary options.
Three individuals were convicted of conspiracy to defraud through a fake, London-based company called Bespoke Markets Group (BMG).
Pini Peter and Spot Option appeal from all judgments and rulings in a lawsuit brought by the SEC over a large-scale binary options scam.
The CFTC has not yet placed evidence before the Court concerning the appropriate amount of disgorgement, restitution, or other monetary penalty.
What authorities “got” Jared Davis on ultimately wasn’t binary options fraud, but rather large scale tax evasion.
The group arrested in Israel were named as Uri Maimon, Nissim Alfasi, Afik Tori, Oron Montgomery, Dave Barzilai and Gilad Mazogi.
Spot Option is liable for disgorgement of $56,460,888.04 and a civil monetary penalty in the amount of $66,298,176.
However Aviv Talmor is not heading to jail quite yet. His sentence was suspended for four months, to give time for an appeal.
The petition by binary options fraudster Lee Elbaz for rehearing en banc was circulated to the full court and denied.
Binary options fraudster Lee Elbaz challenges Appeals Court ruling by filing her second petition for rehearing en banc.