BeeOptions fined more than $200 million for binary options fraud
BeeOptions operator swindled more than $51 million from binary options customers in the U.S.。
The United States Commodity Futures Trading Commission (CFTC) announced that the United States District Court for the Western District of Texas had ruled against Jonathan Cartu, Leeav Peretz, Nati Peretz (all believed to be Israeli residents) and Blue Moon Investments Inc..
The order finds them liable for the supply of illegal over-the-counter binary options and for fraud related to the illegal supply of binary options to settle a lawsuit filed by the CFTC on September 2, 2020 against the defendants, who operated multiple binary options brokerage brands, including BeeOptions, Glenridge Capital and Rumelia Capital.。
The court's default order and permanent injunction barred the defendants from engaging in violations of the Commodity Exchange Act (CEA), ordering them to pay, jointly and separately, a fine of $51,155,645 and a civil fine of $153,466,935.。The order also permanently prohibits defendants from registering with the CFTC and trading with any registered entity.。
BeeOptions Case Background
Beginning approximately September 26, 2015, the defendant offered illegal over-the-counter binary options through the Internet platform it operated and maintained, and the defendant not only made material misrepresentations to customers and potential customers about the degree of risk of binary options, but also manipulated some trading results, forcing customers to lose money and create profits for themselves.。The order found that through this fraudulent scheme, the defendant defrauded more than $51,155,645 from U.S. customers.。
The CFTC expressed its appreciation to the US Securities and Exchange Commission (SEC), the Ontario Securities Commission, the Australian Securities and Investments Commission (ASIC), the Belize International Financial Services Commission (FSC), the Cyprus Securities and Exchange Commission (CySEC), the German Federal Financial Supervisory Authority (BaFin), the Central Bank of Ireland, the Israel Securities Authority, the Malta Financial Services Authority, the Swiss Financial Market Supervisory Authority (FINMA) and the UK。
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