Securities Authority Refers Binary Options Fraud Case to State Prosecutor
The Israel Securities Authority's Investigations, Information Analysis, and Stock Exchange Supervision Department has concluded a criminal investigation into illegal binary options trading and forwarded the case to the State Prosecutor's Office for potential indictment. The investigation centers on allegations of targeting Israeli investors, including via social media, to trade on the POCKET OPTION platform, which lacks the necessary licensing.
According to the investigation findings, individuals were solicited to trade binary options and other financial instruments. Client recruitment and redirection to the platform allegedly involved misleading investors and making false claims, with the perpetrators aware that investors were likely to lose their funds. The authority also suspects that the scheme's organizers concealed their involvement, potentially using accounts of nominees to receive investor funds.
The Securities Authority is now awaiting the State Prosecutor's decision on whether to press charges.
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