Former Yukom CEO Lee Elbaz charged by US DoJ, as 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.
27 March, AtoZForex – The US has officially issued an indictment of Lee Elbaz, the ex-Chief Executive Officer of Yukom, which is an Israel – based sales and marketing firm with the focus on Binary Options industry.
Former Yukom CEO Lee Elbaz charged by US DoJ
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.
The indictment also mentions that Elbaz along with some of her colleagues at Yukom provided false claims of ROI to their investors. The officials allege Elbaz and her company of providing prospective investors with additional false data, which included false names. In addition, they have claimed that the company was operating from London. It also appears that Yukom misled clients in regards to the process for future withdrawals.
Lee Elbaz US Official Indictment
The indictment further reads that Yukom and Elbaz have provided false information to the clients in relation to the promotional tools classified as “bonuses,” “risk-free trades,” and “insured trades.” All these offerings initially appeared to provide investors with benefits, however, they actually work against the clients’ interests.
Elbaz was arrested in New York back in September 2017. The following investigation by the FBI has led to the allegations of wire fraud, which now appear as charges against Elbaz. In order to find more information about Elbaz, FBI has visited the Yukom’s Israeli headquarters in January 2018.
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