Ex-Yukom CEO Lee Elbaz pleads not guilty in court to charges of “Conspiracy to Commit Wire Fraud” and “Wire Fraud”. The case against Lee Elbaz still continues at the Maryland District Court.
24 April, AtoZ Markets – As a continuation of our story about Lee Elbaz, the former CEO of an Israel-based sales and marketing firm Yukom, new updates have appeared on the way.
US DoJ Lee Elbaz Case Involvement
Earlier we have reported that the US has officially issued an indictment of Lee Elbaz, the ex-Chief Executive Officer of Yukom. The company largely focused its efforts on Binary Options sector.
Reportedly, Elbaz was charged with three counts of wire fraud, and one count of conspiracy to commit wire fraud in the District of Maryland.
According to the US Department of Justice, the charges against Elbaz indicate that Yukom has provided investor retention services for two Binary Options websites, namely BigOptions and BinaryBook. The allegations include the specification that Yukom has misled investors by stating that the company is offering services that are in the best interest of the clients.
However, the services were provided to the clients to directly profit from clients’ losses. Reportedly, the Yukom has been providing such services under the supervision of Elbaz as we all other conspirators.
Ex-Yukom CEO Lee Elbaz Pleads Not Guilty in Court
Now, after a month has passed since the US DoJ involvement, the new updates have emerged. According to some of the online media reports, court filings indicate that during the Initial Appearance and Arraignment of Lee Elbaz, a plea of “Not Guilty” was entered on Counts 1 through 4 of the Indictment.
This reportedly implies that the defendant has pled “not guilty” to charges of “Conspiracy to Commit Wire Fraud” and “Wire Fraud”.
However, there were no details provided in regards to the case. The Court has reportedly signed a Protective Order. As per this Order, the defense counsel is prohibited from publicizing any information in any form, which would lead to the discovery of witness’s location.
It is also has been reported that the US government is concerned that in the absence of a protective order, the reliability of the current criminal investigation might be compromised.
As of the moment, the case against ex-CEO of Yukom continues at the Maryland District Court.
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