US SEEKS RECORD $75 MILLION FROM MARKETER FOR STEERING VICTIMS TO ISRAELI BINARY SCAMS

The Times of Israel on 18th July reported that Florida-based Michael Shah allegedly sent traffic to Israeli-run binary options sites including LBinary, TraderXP, Trade Rush, Banc de Binary and OptionRally.  The US government has asked a Florida court to impose some $75 million in fines and penalties – the largest the CFTC has requested so far from an alleged binary options fraudster.  The alleged fraudster, Michael Shah, worked in tandem with call centres in Israel, the Commodities and Futures Trading Commission motion charges, and steered his American and other financial victims to numerous binary options websites based in Israel.

https://www.timesofisrael.com/us-seeks-record-75m-from-marketer-for-steering-victims-to-israeli-binary-scams/?src=ilaw

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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