tyb
US court sentences Israeli CEO for scamming Americans, media ignore it
Israeli media (not US newspapers) report that an Israeli CEO has been sentenced in a US court for defrauding Americans out of millions of dollars. The company specifically targeted the elderly and the vulnerable, one of over 100 Israeli companies perpetrating a scam called "binary options"… Israel permitted the scam for a decade… The Times of Israel reports that Lee Elbaz, an Israeli CEO, was sentenced to 22 years in prison by a Maryland court on Thursday. US media have largely failed to report on the conviction, despite the fact that American taxpayers give Israel over $10 million per day. The pro-Israel lobby has long been deeply influential in US Mideast policies.
Elbaz was the CEO of an Israeli company called Yukom Communications Ltd., which perpetrated an international financial scam called "binary options." More than a hundred binary options companies operated in Israel between the years 2008-2018, scamming people around the world out of hundreds of millions of dollars. For years Israel allowed the scammers to operate unhindered.
TOI reports that the US judge said that Elbaz and others "specifically targeted vulnerable people, including the elderly, and tried to get people addicted to trading like in a casino. He said that Elbaz would suggest that clients use their retirement funds for investments."
Yukom employees pretended to be from other countries, lied about their professional qualifications, lied about their historical rates of return, and didn't tell investors that they only made money if their customers lost money.
According to TOI: "Binary options fraud flourished in Israel for about a decade before the entire industry was outlawed via Knesset legislation in October 2017, largely as a result of investigative reporting by The Times of Israel that began with a March 2016 article entitled 'The wolves of Tel Aviv.' At its height, hundreds of companies in Israel were engaged in the widely fraudulent industry, employing thousands of Israelis, allegedly fleecing billions out of victims worldwide. "Many of the fraudulent operatives have since moved their operations abroad, or switched to other scams, though Israeli law-enforcement authorities have proved unwilling or unable to prosecute more than a handful of alleged offenders. By contrast, the US government is ratcheting up efforts to bring Israeli offenders to justice."
A US prosecutor told the court that "videos from inside Yukom showed that employees enjoyed their work, and that Elbaz fostered a work environment where it was fun to defraud investors."
"There was a mentality at this company that the defendant fostered, with gongs and bells, to say this is exciting, it's a good thing to defraud investors. That culture that permeated company is no doubt one of the reasons why this fraud grew from a few hundred thousand dollars and a few employees to hundreds of employees and millions and millions of dollars in losses to investors," he said. A London-based NGO, the Bureau of Investigative Journalism, takes credit with TOI for first exposing Elbaz: "A whistleblower from inside the industry approached the Bureau and the Times of Israel in 2016 with inside files including lists of thousands of victims from 50 countries and the sums which they had been defrauded of. The information helped the US authorities prosecute Elbaz."
Elbaz had been living with a relative in San Francisco while she awaited her trial. TOI reports that at the sentencing the judge read off a long list of victims who had lost their life's savings:
"Among such victims was Larry Burton, who lost over $200,000 including $70,000 from his retirement account. He also borrowed 30,000 for his investment and afterwards had to refinance his home. There's James Freeman, age 67, who lost $304,000, his entire life savings. Terry Pocket lost $247,000 including $94,000 from his 401k fund. He also said he lost his life's savings and had to borrow money to pay for his mortgage. Mr. Hanow lost $175,000 including large sums from his IRA and retirement funds and had to take a job as a truck driver to help pay off his losses." The judge continued naming victims, including a man who "lost so much money he tried to commit suicide."
Finance Feeds reported in 2017: "Israel's binary options industry rose to prominence very very quickly in the middle of the last decade, and has during the past two years become the bete noire of financial markets regulators, mainstream news entities and consumer protection groups, largely because it is about as far removed from a genuine financial product as is humanly imaginable.
rest at link
https://www.sott.net/article/426068-US-court-sentences-Israeli-CEO-for-scamming-Americans-media-ignore-it
you asked.
trips confirm
last we heard he was changing a wheel bearing or some shit like that but yea I hear you. needs to task a BV with it or do it
Sell is still a four letter word on Wall Street.
yes that was hard song to remove from head.
Mexican Catholic group says late leader Maciel abused at least 60 minors
Marcial Maciel, the Mexican founder of the ultra-conservative Legionaries of Christ, abused at least 60 minors, according to a new report published Saturday by the Roman Catholic group. Maciel was punished by Pope Benedict XVI in 2006 when he ordered Maciel to retire to a life of prayer and penitence after years of allegations that he had sexually abused boys and young men. He died two years later at the age of 87 without ever facing his accusers.
The report lists 175 instances of child abuse over the past eight decades, implicating 33 priests. “Of the 33 priests, six died without being tried, one was convicted and another one - already removed from clerical status - is currently on trial,” the report concludes.
The report did not say what became of the other 25 priests. While the report does not detail when the abuse took place, several men have in the past publicly accused Maciel of molesting them while they were in a seminary from the 1940s to the 1960s. Before he died, Maciel forcefully denied the charges against him, and many of them came too late for prosecutors to pursue a criminal case. “I never engaged in the sort of repulsive behaviour these men accuse me of,” he said in 2002.
Maciel, born in a small town in the central Mexican state of Michoacan, came from a distinguished Catholic family with two great-uncles who were Mexican Bishops. “There has been progress on an institutional path of reparation and reconciliation” for 45 victims of abuse, the report states, without going into further detail.
“There is still a great need to continue facilitating this path for others,” it adds.
https://uk.reuters.com/article/uk-mexico-abuse/mexican-catholic-group-says-late-leader-maciel-abused-at-least-60-minors-idUKKBN1YQ02V
read da pic
np my fren. usually asking a question invokes a different response but it's christmas.
added to collection. ty anon
>8bit despite his famefagging early on
it never stopped. he did a better job but call an apple an apple.
the hiring manager couldn't see this coming??