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  • Binary options fraudster Lee Elbaz seeks to vacate verdict

    From fxnewsgroup.com

    About a year after binary options fraudster Lee Elbaz, the former CEO of Israel-based Yukom Communications, was sentenced to 240 months in prison, she is seeking to vacate the conviction. The Brief, filed earlier today by Elbaz at the Fourth Circuit U.S. Court of Appeals and seen by FX News Group, makes some rather startling claims. For instance, Elbaz insists that “she did not intend to commit fraud and she stopped fraud when she saw it at the company”. These claims, Elbaz says, would have been confirmed by her boss Yossi Herzog. He, however, did not show up to testify, as he was himself named among the ... (full story)

No way they let her out. So few people have actually been convicted for financial fraud in the US compared to how many should have. No way they let go the one they got. Shame that her bosses are still free.
  •  Guest
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other countries should follow the US lead any jail these binaryoptions people was pure thievery and gave online trading a bad name
240 months??? Why not write 20 years?
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Regulators went way overboard banning binary. Problem was and still is unregulated broker like the broker Lee Elbaz work for. They treat client deposit like there own money . Never was problems with regulated brokers and binary options. Typical overreacting by regulators.
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Quoting OnlineAddict
240 months??? Why not write 20 years?
That's just how jail sentences are announced in the USA
Quoting OnlineAddict
240 months??? Why not write 20 years?
Because the standard measurement used for sentences (hence, their designation) in criminal cases is months. The same goes for news coverage of criminal proceedings.
Quoting CBAtrades
No way they let her out. So few people have actually been convicted for financial fraud in the US compared to how many should have. No way they let go the one they got. Shame that her bosses are still free.
On a personal note, I can say I was struck with how Lee Elbaz still expects help from Herzog, Cohen and the rest of the people associated with Yukom and this entire binary options scheme. It has been clear for a couple of years that Herzog will not fly to the US to testify to defend her. But she keeps waiting. She does not even realise she is on her own.
Regarding the sentence, I dare to forecast that if she loses the appeal, she will request house arrest due to the Covid pandemic (or her liver issues, etc). Courts often grant requests for supervised release to financial crime convicts these days rather than actually making them serve jail terms. Of course, the Court will decide.
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Complete insanity that a middle manager gets 20 years for this. She made 500k over a few years, anyone who thinks this is a just sentence should immediately check into the nearest mental health facility.
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  • Story Stats
  • Posted: Dec 18, 2020 2:42pm
  • Submitted by:
     MariaFNG
    Category: Entertainment News
    Comments: 8  /  Views: 1,300
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