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Old January 22nd, 2017 #1
RickHolland
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Default FBI, EU fraud authorities hold emergency summit on binary options fraud

Fleeced by Israeli binary options firm, Canadian man dies by suicide

Quote:
Fred Turbide of Edmonton, Alberta, was a devoted husband and father of four who was looking forward to enjoying his retirement with his family. Then the ‘brokers’ of 23Traders got hold of him

A 61-year-old Canadian man has taken his own life after losing over 200,000 Canadian dollars (US$152,000) to an Israeli-run binary options firm, a Canadian law-enforcement official told The Times of Israel.

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On December 21, 2016, Frederick Felix Turbide of Edmonton, Alberta, shot himself in the chest after losing his savings and additional money he borrowed, totaling over C$300,000 (US$228,000), to several binary options trading websites. He lost some two-thirds of this sum on the 23Traders.com platform, which operates from Israel.

The largely fraudulent binary options industry has flourished in Israel for the past nine years, scamming hundreds of thousands of victims worldwide out of billions of dollars with little to no intervention from Israeli law enforcement. Fraudulent binary options firms lure their victims into making what they are duped into believing will be profitable short-term investments, encouraging them to “invest” more and more money. But by employing a variety of ruses, the firms ensure that in the overwhelming majority of cases their clients wind up losing all or almost all of their money. Victims frequently lose tens of thousands of dollars or more.

Turbide had been urged by his broker at 23Traders, who went by the name of “Julian Wellington,” to gradually invest his entire life savings as well as credit for his home and business into binary options, with reassurances that he would make significant revenue.

“G-OD is with us,” the purported Julian Wellington messaged him on Skype on December 12, 2016. “I’m taking you to 250k When you expand your enterprise, send me a warm post card,” he texted with a handshake emoji.

Wellington told Turbide he was calling from the UK, or Toronto, Turbide’s family believes, as Turbide once referred to him playfully as “my UK boss,” and the phone number he used had a Toronto area code.
http://www.timesofisrael.com/fleeced...mmits-suicide/


Unprecedented session at The Hague comes as Israeli police still largely fail to act against multi-billion dollar plague of criminality that has flourished from Israel for almost a decade


Quote:
Horrified at the vast global fraud being perpetrated by fraudulent binary options firms, most of which are located in or connected to Israel, law enforcement officials from some 20 countries convened in the Netherlands earlier this month to discuss how to tackle the crime, The Times of Israel has been told.

The unprecedented summit two weeks ago included officials and investigators from most European countries as well as the FBI, the US Securities and Exchange Commission, the Canadian Securities Administrators (CSA), and the Autorité des marchés financiers (AMF) of France. The meeting was hosted by Europol, the EU’s law enforcement agency, whose purpose is “to assist the 28 EU Member States in their fight against serious international crime and terrorism.”

The largely fraudulent binary options industry emerged in Israel in 2008, partly in response to the US Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA), which banned online gambling companies from accepting payments from US customers, sources told The Times of Israel. It has been allowed to flourish with little to no intervention by the Israeli authorities ever since, despite overwhelming evidence of the fraud being perpetrated by the Israel-based and Israel-owned firms.

Israeli authorities last year barred binary options firms from targeting Israelis, but they have been allowed to continue to target victims all over the world. The police have largely refused to tackle the more than 100 companies operating in Israel, even though many of the ruses they employ are blatantly illegal.
Read more: http://www.timesofisrael.com/fbi-eu-...options-fraud/
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