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CFTC, binary options marketers clash over evidence in fraud case
The CFTC admits that it has not identified trades placed by binary options autotrading systems sold or promoted by Zilmil, as such trades are placed on illegal, unregistered internet-based exchanges. Legal proceedings against binary options fraudsters are extremely tricky, as shown by the case Commodity Futures Trading Commission v. Scharf et al (3:17-cv-00774). The lawsuit, launched in July last year, targets a number of binary options firms, such as Citrades.com and AutoTradingBinary.com, as well as their affiliate marketers Zilmil and Zimil’s owner Michael Shah. According to the allegations, the Zilmil ... (full story)