The Commodity Futures Trading Commission (CFTC) has secured
a victory in its pursuit of justice against fraudulent binary options
operators. The US District Court for the Western District of Texas has entered
a final judgment against Jonathan Cartu, Leeav Peretz, Nati Peretz, believed to
be residents of Israel, and Blue Moon Investments Inc., a Seychelles
corporation. This ruling marks the resolution of a case initiated by the CFTC
on September 2, 2020, against the defendants.
According to the CFTC’s press release, the court’s order
imposes severe penalties on the defendants for their illegal activities. The
defendants are found liable for offering illegal, off-exchange binary options
and engaging in fraudulent practices related to these offerings. They have been ordered to pay a total of $204.6 million in disgorgement and civil monetary
penalties. This includes $51,155,645 in disgorgement, to be paid jointly and
severally, and a civil monetary penalty of $153,466,935.
Additionally, the court has issued a permanent injunction
prohibiting the defendants from engaging in any conduct that violates the
Commodity Exchange Act. They are also banned from registering with the
CFTC and trading on any registered entity in the future.
Federal Court Orders Binary Options Firm and Owners to Pay Over $204 Million in Monetary Sanctions for Fraudulent Binary Options Scheme: https://t.co/a9e4aQ59sp
— CFTC (@CFTC) March 14, 2024
Regulatory Bodies Unite to Prosecute Elaborate Binary
Options Fraud
The case, which dated back to September 26, 2015, alleged
that the defendants operated an internet platform to offer illegal binary
options trading. The court’s order outlines that the defendants not only
misrepresented the risks associated with binary options to customers but also
manipulated trade outcomes to ensure customer losses and generate profits for
themselves. Through this fraudulent scheme, the defendants fraudulently
obtained over $51 million from customers in the United States.
The success of this case highlights the collaborative
efforts of various regulatory bodies worldwide in combating financial fraud.
The CFTC has acknowledged
the assistance provided by organizations such as the US Securities and Exchange
Commission, Ontario Securities Commission, Australian Securities and
Investments Commission, and others in uncovering and prosecuting this elaborate
scheme.
The Commodity Futures Trading Commission (CFTC) has secured
a victory in its pursuit of justice against fraudulent binary options
operators. The US District Court for the Western District of Texas has entered
a final judgment against Jonathan Cartu, Leeav Peretz, Nati Peretz, believed to
be residents of Israel, and Blue Moon Investments Inc., a Seychelles
corporation. This ruling marks the resolution of a case initiated by the CFTC
on September 2, 2020, against the defendants.
According to the CFTC’s press release, the court’s order
imposes severe penalties on the defendants for their illegal activities. The
defendants are found liable for offering illegal, off-exchange binary options
and engaging in fraudulent practices related to these offerings. They have been ordered to pay a total of $204.6 million in disgorgement and civil monetary
penalties. This includes $51,155,645 in disgorgement, to be paid jointly and
severally, and a civil monetary penalty of $153,466,935.
Additionally, the court has issued a permanent injunction
prohibiting the defendants from engaging in any conduct that violates the
Commodity Exchange Act. They are also banned from registering with the
CFTC and trading on any registered entity in the future.
Federal Court Orders Binary Options Firm and Owners to Pay Over $204 Million in Monetary Sanctions for Fraudulent Binary Options Scheme: https://t.co/a9e4aQ59sp
— CFTC (@CFTC) March 14, 2024
Regulatory Bodies Unite to Prosecute Elaborate Binary
Options Fraud
The case, which dated back to September 26, 2015, alleged
that the defendants operated an internet platform to offer illegal binary
options trading. The court’s order outlines that the defendants not only
misrepresented the risks associated with binary options to customers but also
manipulated trade outcomes to ensure customer losses and generate profits for
themselves. Through this fraudulent scheme, the defendants fraudulently
obtained over $51 million from customers in the United States.
The success of this case highlights the collaborative
efforts of various regulatory bodies worldwide in combating financial fraud.
The CFTC has acknowledged
the assistance provided by organizations such as the US Securities and Exchange
Commission, Ontario Securities Commission, Australian Securities and
Investments Commission, and others in uncovering and prosecuting this elaborate
scheme.